Add-on Acquisition • Internet Software and Services

Vista Global Acquires JetSmarter

On April 10, 2019, Vista Global acquired internet software and services company JetSmarter from Clearlake Capital

Acquisition Context
  • This is Vista Global’s 1st transaction in the Internet Software and Services sector.
  • This is Vista Global’s 2nd transaction in the United States.
  • This is Vista Global’s 2nd transaction in Florida.

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M&A Deal Summary

Date April 10, 2019
Target JetSmarter
Sector Internet Software and Services
Buyer(s) Vista Global
Sellers(s) Clearlake Capital
Deal Type Add-on Acquisition

Target Company

JetSmarter

Fort Lauderdale, Florida, United States
JetSmarter, Inc. is a technology company known for creating a new class of flying called social aviation, which pairs the practice of purchasing low cost empty legs and underutilized capacity with the sharing economy. Its asset-lite approach allows JetSmarter to substantially reduce costs, making private aviation available to more consumers and businesses. JetSmarter is the world’s largest marketplace for private aviation, with over 670,000 registered app users, 10,000 members, and connectivity to 3,200 aircraft, and has transported over 40,000 unique passengers since inception. The investment will enable JetSmarter to accelerate growth by continuing to launch new products and routes globally and by increasing supply on existing routes.
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Buyer Overview 1

Buyer

Vista Global

Dubai, United Arab Emirates

Category Company
Sector Transportation
DESCRIPTION

Vista Global is a global private aviation business. The Company owns and manages a fleet of super-mid and large cabin business jets, which it uses to provide customers a suite of digitally-enabled subscription and on-demand private aviation solutions through two complementary businesses, VistaJet and XO. Vista Global is based in Dubai, United Arab Emirates.


Deal Context for Buyer #
Overall 2 of 4
Sector: Internet Software and Services 1 of 1
Type: Add-on Acquisition 2 of 4
State: Florida 2 of 2
Country: United States 2 of 3
Year: 2019 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-20 XOJET

Fort Lauderdale, Florida, United States

XOJET provides private jet ownership, leasing, and on-demand travel solutions. The centralized platform combines the trusted operational and customer-centric expertise of XOJET with the speed and convenience of technology originally developed by JetSmarter. XO was established in 2006 and is based in Fort Lauderdale, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-21 AIR HAMBURG

Hamburg, Germany

AIR HAMBURG is a full-service private aviation companies, flying to over 1,000 destinations. AIR HAMBURG was founded in 2006 and is based in Hamburg, Germany.

Buy -

Seller Profile 1

SELLER

Clearlake Capital

Santa Monica, California, United States

Category Private Equity Firm
Founded 2006
PE ASSETS 90.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clearlake Capital Group is a private equity firm that focuses on corporate divestitures, recapitalizations, buyouts, restructurings, rescue financing, growth capital, turnarounds, and other equity investments. Clearlake seeks to partner with strong management teams by providing long-term capital and operational expertise. Areas of interest include technology, industrials, and consumer. Clearlake Capital Group was formed in 2006 and is based in Santa Monica, California.


Deal Context for Seller #
Overall 26 of 39
Sector: Internet Software and Services 1 of 4
Type: Add-on Acquisition 9 of 14
State: Florida 2 of 2
Country: United States 24 of 36
Year: 2019 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-09 Bamboo Health

Louisville, Kentucky, United States

Bamboo Health is a healthcare technology solutions company, focused on fostering care collaboration and providing information and actionable insights to facilitate physical and behavioral health across the entire continuum of care. Bamboo Health is based in Louisville, Kentucky.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-03 Brightly Software

Cary, North Carolina, United States

Brightly Software is a provider of cloud-based operations management software to the education, government, healthcare, and manufacturing verticals. Brightly Software was founded in 1999 and is headquartered in Cary, North Carolina.

Buy -