AIRCELL SECURES $35 MILLION PE FINANCING

Dino D'Amore
By Dino D'Amore February 9, 2011 17:14

AIRCELL SECURES $35 MILLION PE FINANCING

Aircell has closed $35 million in private equity financing. The funds will be used to fund growth in commercial aviation markets, including increasing its base of installed airline-operated aircraft by an average of three per day in 2011.

“2010 was the year inflight Internet went mainstream and Aircell established its leadership in this exciting new mobile Internet venue,” said president and CEO Michael Small. “Since securing our exclusive spectrum license in 2006, we’ve raised more than $500 million.”

Existing investors, Ripplewood Holdings, Blumenstein/Thorne Information Partners and other entities, provided the financing.

Dino D'Amore
By Dino D'Amore February 9, 2011 17:14
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