All Remaining Shares of Advanced Inflight Alliance
Global Eagle Entertainment Inc. (Nasdaq:ENT) (Global Eagle) announced today that it has completed its previously announced merger with Advanced Inflight Alliance AG (AIA). Global Eagle acquired the final 6.05% stake in AIA that it did not already own from minority shareholders for a total purchase price of EUR 11.1 million for the shares (EUR 7.63 per share). AIA has now been delisted from the Frankfurt Stock Exchange and trading in its shares has ceased.
Global Eagle Entertainment is a holding company. Co.'s business is focused on providing Wi-Fi internet connectivity and content to the airline industry. Co.'s connectivity services are delivered through its wholly owned subsidiary, Row 44, Inc., which allow airline passengers to access in-flight Internet, live television, on-demand content, shopping and travel-related information. Co.'s content services offering selects, manages, and distributes wholly-owned and licensed media content, video and music programming, applications, and video games to the airline industry through its primarily-owned subsidiary, Advanced Inflight Alliance AG.
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