Row 44 Announces Completion of $45 Million Financing Round
Funding to Support Expansion of Row 44's Rapidly Growing Global Infrastructure
WESTLAKE VILLAGE, Calif., June 11, 2012 /PRNewswire/ -- Row 44, the leading provider of inflight WiFi and device-based entertainment for airlines around the world, announced today that it has closed a $45 million round of financing. The funding round was led by inflight content expert Advanced Inflight Alliance AG (AIA), and included participation by PAR Capital Management, an investor in all of Row 44's institutional funding rounds.
"This financing continues to strengthen Row 44's financial position, and provides us with resources to broaden our offering, expand our infrastructure and invest in the types of programs our customers will find valuable," said John LaValle, Row 44's CEO. "As the world's foremost expert in inflight content, AIA has made a key investment in Row 44, and in our ability to grow and evolve the passenger experience with inflight entertainment."
"Row 44 has created a new standard in the inflight connectivity space," said Louis Belanger-Martin, CEO of Advanced Inflight Alliance AG. "We believe Row 44 has built the industry's most powerful inflight WiFi solution for passenger devices. Our investment is an important strategic step for AIA to provide a connected environment complementary to the market-leading inflight entertainment content we provide to airlines across the world."
Row 44 will use a portion of the investment capital to expand its global infrastructure to support new European and Trans-Asia airline customers, including the recently announced partnerships with Transaero, Russia's first private airline and Icelandair.
Added LaValle "This industry is still in its infancy, and at Row 44 we see unlimited potential for the ways travelers can be productive and entertained while flying. We look forward to continuing to lead the evolution and work with our airline customers to provide the most advanced in-flight entertainment experience available."
About Row 44, Inc.
Row 44, Inc. is the leading in-flight WiFi and device-based entertainment provider for commercial airlines. Row 44 enables airlines worldwide to provide their travelers with high-speed Internet connectivity, access to world-class entertainment content, including live television and streaming Video on Demand, and local activities that can be booked en route. Aboard nearly 300 planes worldwide, Row 44 has the largest fleet of high-speed WiFi-enabled planes that operate over land and sea. The Row 44 platform uses the most reliable, sustainable technology for connectivity available today to deliver airline passengers a quality travel experience, and airlines incremental revenue and growth opportunities. To learn more, please visit www.row44.com.
About Advanced Inflight Alliance AG
Advanced Inflight Alliance AG (ISIN DE0001262186, WKN 126218) is the world leader of inflight entertainment and passenger experience solutions. Its subsidiaries are market-leaders of the in-flight entertainment industry and include DTI Software, the world's leading inflight software and applications provider and Inflight Productions, a pioneering content services provider. For more information, please visit www.advanced-inflight-alliance.com
SOURCE Row 44, Inc.
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