When Platinum Equity in August announced plans to acquire inflight entertainment and connectivity provider Anuvu, some industry observers intimated that an IFEC company being owned by a private equity firm could mean cost-cutting would be prioritized over customers and the passenger experience.
But the Anuvu acquisition, which was completed on 29 October, is part of a wider aero growth initiative at Platinum, with further investment in the cards, according to Anuvu.
Already an experienced aerospace investor, Beverly Hills, California-based Platinum acquired landing gear maker Héroux-Devtek in February. Its acquisition of Anuvu was executed only after Anuvu undertook “a comprehensive transformation resulting in rapid top-line growth and increased profitability,” Anuvu EVP, connectivity Mike Pigott tells Runway Girl Network.
He adds:
Platinum acquired Anuvu as a platform for airline passenger services with the intent to grow our aviation portfolio through product investments and targeted acquisitions, further benefiting our clients and their passenger experience.
In a joint statement, Platinum Equity co-president Jacob Kotzubei and managing director Dan Krasner, say:
We share a vision with Anuvu’s leadership team to grow their respective businesses and look forward to leveraging their capabilities and expertise to pursue further opportunities in adjacent markets.
A major content service provider (CSP) in aviation, maritime and other non-theatrical end markets, Anuvu serves over 150 airline and 30 cruise-line clients worldwide, and now operates two primary divisions.
Its Media Technology Services unit licenses, distributes, localizes, and delivers entertainment content, and boasts a catalog of more than 400,000 titles, and its Connectivity unit is billed as providing “telecommunications equipment, broadband satellite Internet access, passenger management services, and analytics solutions to airline customers.”
Two Astranis-made MicroGEO satellites are now powering connections for Anuvu’s maritime and airline clients, including in support of the free Wi-Fi model at Southwest. These MicroGEOs are part of the “Anuvu Constellation,” which includes capacity agreements with other Ku-band geostationary satellite operators.
“We continue to see excellent performance from our Anuvu Constellation, including the MicroGEO satellites, in delivering our network services around the world,” Pigott says. “We operate a service business and refine our service delivery every day to maximize the quality of experience for end users.”
Anuvu has options for satellites on future Astranis launches, though it hasn’t specified its plans as yet.
Financial terms of Platinum’s acquisition of Anuvu have not been disclosed.
But for Anuvu CEO Josh Marks, the acquisition sets the stage for what’s next.
“I am incredibly proud of what Anuvu has accomplished in recent years and believe that Platinum Equity will provide the launching pad to further the company’s growth in technology and content, benefiting our clients.”
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Featured image of business class aboard Anuvu customer Cathay’s A321neo credited to John Walton