OneSky Jets (www.onesky.com), a Manchester, New Hampshire-based private jet company, announced today that it has acquired the assets of Quincy, Massachusetts-based competitor Jets.com.
Included in the sale are the Jets.com technology platform including its servers and all the data contained therein; the LegFind charter industry portal software and domain; explicit rights to the Jets.com customer list; and Jets.com's rights, title, and interest in all non-disclosure, non-compete and/or non-solicitation agreements.
The sale of Jets.com's assets was handled through assignment to Boston-based Tron Group.
Founded in 1999, Jets.com grew to be one of the largest and most respected private jet brokers in the United States. Speaking from OneSky headquarters in Manchester, New Hampshire, Mr. Greg Johnson, President & CEO, commented: "The Jets.com business model is sound and is synergistic with the service portfolio at OneSky Jets. This is a classic counter-cycle opportunity to gain scale and increase efficiency through consolidation. Our outreach to former Jets.com clients has been met with an overwhelmingly positive reaction to this transaction."
The best features and benefits of the Jets.com Titanium membership program will be incorporated into OneSky Jets' Latitude Membership program. Both programs place member deposits into interest bearing FDIC insured escrow accounts as a standard feature. A commitment to safety due-diligence is a shared cornerstone within the two organizations. OneSky Jets is a founding member of the Air Charter Safety Foundation.
OneSky Jets will combine the best of the Jets.com technology platform into OneSky's own proprietary Cloud 9 information management suite. These systems represent several million lines of code and incorporate learning gained through sixteen years of combined operating experience. OneSky's Cloud 9 suite is an Adobe ColdFusion-based platform that integrates lead generation, sales pipeline management, CRM, pricing and quoting, vendor management, trip management, and comprehensive reporting tools. Cloud 9 is tightly integrated with a Mitel enterprise VoIP call center and tele-worker solution providing the industry's most advanced centrally managed globally scalable booking, trip management, and communications platform.
The aircraft charter sector has been hard hit by the global economic crisis, a situation that has been compounded by repeated attempts to villainize the private jet that began last fall when executives from General Motors, Ford, and Chrysler flew privately to Washington, D.C. and has continued in 2009 as banks such as Citigroup have been chastised for private jet orders they placed years ago.
Challenging times like these create unique opportunities for consolidation to increase scale, efficiency, and stability. OneSky Jets' acquisition of the assets of Jets.com is a move that will enhance value for clients, employees, and shareholders alike.
About OneSky Jets
Founded in 2003, OneSky Jets is the acknowledged market leader in the provision of global online aircraft charter and associated services. Headquartered in Manchester, New Hampshire, OneSky Jets has evolved the market space using advanced technology to create intelligent value for global air charter customers. OneSky Jets is led by President/CEO Greg Johnson a former logistics executive with Federal Express. Trey Urbahn, former Chief Revenue Officer for jetBlue and former Chairman of Travel for Priceline is Chairman of the OneSky Jets Board. OneSky is committed to a long-term re-investment strategy which involves the continual evolution of the OneSky technology platform in addition to employee training and development.
