Vista Global acquires JetSmarter
JetSmarter, the online jet-sharing and charter company, has been acquired by Thomas Flohr’s holding company Vista Global.
JetSmarter is the third company to fall under the Vista Global brand, following VistaJet and XOJET.
Although no value has been placed on the transaction, in December 2016 JetSmarter completed a Series C funding round that attached a pre-money valuation of $1.5 billion on the company.
Vista Global says that the acquisition will allow it to create a global on-demand charter marketplace.
“Today’s acquisition is an important milestone for Vista Global – accelerating and executing our vision of digitizing the entire private aviation offering.” Said Thomas Flohr, founder and chairman, Vista Global Holdings. “Customers today want speed, reliability and value, which in today’s world is only possible with technology. Vista Global’s reach and infrastructure will take JetSmarter to the global stage to fully realize its potential. JetSmarter’s technology will digitalize Vista Global’s market-leading customer offering to Program Members and On Demand customers.”
Thomas Flohr founded Vista Global in September 2018. Based in Dubai, the group was originally created with VistaJet as its operator. The group also includes a new leasing company as well as TechX, which leverages the technology that the VistaJet team has already built.
The transaction is expected to be completed in the second quarter of 2019, with all existing JetSmarter investors becoming investors in Vista Global.
Jefferies LLC acted as the sole financial advisor to JetSmarter.