
Vista Global To Acquire JetSmarter
The deal is expected to close in the second quarter.
Vista Global, parent of charter operator VistaJet, will acquire per-seat charter broker and digital app developer JetSmarter, the companies recently announced. The acquisition caps a turbulent history for JetSmarter, founded in 2012, whose per-seat charter sales model and free seat offering drew thousands of members and large media attention before changes in program rules and heavy-handed management tactics provoked a backlash among customers and extensive negative publicity. Yet the proprietary booking technology underpinning JetSmarter’s operations has long enjoyed industry respect.
The move comes on the heels of JetSmarter’s reported agreement to settle a class-action arbitration stemming from members’ claims the company’s rules changes vitiated promised benefits.
The acquisition is expected to close in the second quarter. As part of the transaction, all JetSmarter investors, inclusive of Clearlake Capital and Jefferies Financial Group, will become investors in Vista Global. Jefferies LLC acted as financial advisor to JetSmarter.