GuestLogix Inc.

GuestLogix Inc.

May 06, 2016 09:31 ET

GuestLogix Closes Sale of Its OpenJaw Business to TravelSky

TORONTO, ONTARIO--(Marketwired - May 6, 2016) - GuestLogix Inc. ("GuestLogix" or the "Company") today announced that it has closed the previously announced sale of all of the shares that its wholly-owned subsidiary, GuestLogix Ireland Limited, owned in OpenJaw Technologies Inc. to an affiliate of TravelSky Technology Limited ("TravelSky") (the "OpenJaw Transaction"), for net proceeds of approximately US$38.5 million after closing adjustments but before transactions fees and expenses.

The OpenJaw Transaction resulted from the previously announced court-approved sale and investment solicitation process conducted under the Companies' Creditors Arrangement Act. The OpenJaw Transaction does not include any of the assets of the Company's onboard business.

Canaccord Genuity Corp. acted as financial advisors to GuestLogix and Mooreland Partners LLC acted as financial advisors to TravelSky. Legal advice was provided to GuestLogix by Wildeboer Dellelce LLP and Thornton Grout Finnigan LLP and to TravelSky by Baker & McKenzie LLP.

About GuestLogix

GuestLogix Inc. is a global leader in comprehensive merchandising, payment and business intelligence technology delivered to the passenger travel industry, both onboard and off-board. Bringing over a decade of expertise as the industry's most trusted onboard transaction processing partner to airlines, rail operators and elsewhere in the passenger travel industry, GuestLogix powers the industry's growing reliance on ancillary revenue generation. Both direct to operators as well as through partnerships with global leaders in catering, duty-free, inflight entertainment and self-service retail experts, the Company provides the payment services touching over 1 billion travelling consumers each year. On December 23, 2014, GuestLogix announced the acquisition of OpenJaw Technologies, a Dublin-based technology company focused on travel retailing innovation in the e-commerce segment. GuestLogix' global headquarters and centre for product innovation is located in Toronto, with regional offices located in Dallas, London, Dublin, Galway, Madrid and Hong Kong, and product innovation labs located in Moncton and Kraków. More information is available at www.guestlogix.com and www.openjawtech.com.

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