Tue, 16 Apr 2013 | BUSINESS SALE
Electra Partners, a private equity business, has acquired OAG from its former parent company UBM plc in a deal thought to be worth around £160 million.
The deal was announced earlier this year when UBM first announced that it was on the hunt for a buyer for its Delta data services businesses, which include OAG.
OAG provides comprehensive data on aviation, as well as analytical services and airline intelligence as required. The scale of information the company handles makes it unrivalled in scale across the international aviation industry.
The former owners of the business decided to sell up to put the firm in a stronger position for growth. Phil Callow, chief executive officer for OAG, observed: "The sale of OAG allows the company to fully capitalise on its competitive advantages. As an independent business, OAG is now excellently placed to extend its position as a leader in the world of global aviation data and intelligence."
He added that the business sale will accelerate new product development and improve the value of the company's services on offer around the world. It is thought that around £100 million from the sale will also be used by UBM to pay back its bank debts.
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