Overview

• Platinum Equity will purchase 100% of Anuvu, encompassing its inflight connectivity and media services divisions under a definitive agreement announced August 18
• Anuvu has filed with the U.S. Federal Communications Commission to transfer its non-common carrier earth station licences to a newly formed Platinum Equity entity
• The company intends to reorganize into separate Connectivity and Media Technology Services subsidiaries before closing to simplify its corporate structure
• CEO Josh Marks will remain at the helm post-close, maintaining leadership continuity for Anuvu’s network serving more than 150 airlines and 30 cruise lines
• Drake Star is acting as Anuvu’s exclusive financial advisor and the undisclosed-terms transaction is slated to close in the fourth quarter pending regulatory approvals and customary conditions