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GuestLogix Acquires U.K.-based Onboard Retail Technology Provider, Initium Onboard - Acquisition immediately expands Company's global customer footprint by 250 million annual passenger trips (TSX: GXI) -
GuestLogix Acquires U.K.-based Onboard Retail Technology Provider, Initium Onboard


NewswireToday - /newswire/ - Toronto, Ontario, Canada, 2012/09/04 - Acquisition immediately expands Company's global customer footprint by 250 million annual passenger trips (TSX: GXI) - TSX: GXI

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GuestLogix, Inc., the leading global provider of onboard retail and payment technology solutions to airlines and the passenger travel industry, today announced that it has acquired all of the issued and outstanding shares of Initium Onboard, a United Kingdom-based provider of onboard retail technology to the airline and rail industries. Initium Onboard is the trading name for BOM Merchant Technologies Limited, a subsidiary of the BOM Group Holdings Ltd. With a total transaction value of GBP £3.3 million, GuestLogix paid 60% in cash and 40% in common shares, issuing 4,287, 670 shares at price of CAN$0.44 per share. To satisfy the cash portion of the acquisition, GuestLogix completed a CAN$3.0 million non-brokered Private Placement (the "Private Placement") with Advanced Inflight Alliance AG, a global leading provider of inflight content and solutions. The Board of Directors for both GuestLogix and Initium Onboard have approved this transaction.

"This transaction will greatly advance our leadership position in the global onboard retail marketplace, adding 250 million annual passenger trips to our already one billion passenger-trip strong customer base," said Tom Douramakos, President & CEO of GuestLogix. "In addition, we will be better positioned to execute on key growth strategies, such as further penetrating the rail industry and introducing destination-based merchandising programs on board, as Initium Onboard has proven success in both of these areas. We are excited to welcome Initium Onboard's customers to the GuestLogix family, and look forward to working with its team, all of whom share in our desire to further enhance the onboard retail marketplace for travel operators, content providers and passengers alike."

Initium Onboard currently has 27 customers using its onboard retail technology platform, representing 188 million airline and 62 million rail passenger-trips annually. In addition, Initium Onboard operates successful onboard merchandising programs with several of its customers.

"At Initium Onboard, we are committed to providing the highest level of onboard retailing technology standards for the travel sector, and we have delivered great results to each of our customers to date," said Thomas Drohan, President & CEO of Initium Onboard. "We are excited about joining the GuestLogix team and creating even more value for our clients and the market as a whole going forward. We are confident that this transaction will enable our customers to further enhance their onboard retailing programs. They will benefit from a broader portfolio of onboard retail technologies and a larger global customer support infrastructure."

Initium Onboard has provided onboard retail solutions to the passenger travel industry for the past 15 years. The company has secured several key clients primarily in Europe and the Middle East, including Lufthansa, Scandinavian Airlines, Flybe, Etihad Airways and flydubai. Initium Onboard also serves Webjet in South America and Air New Zealand in Asia Pacific – two strategic growth regions for GuestLogix. With the completion of the acquisition, GuestLogix' worldwide market share in the airline industry has increased from 40% to 46%.

The acquisition creates the opportunity for GuestLogix to form a specialized Global Rail Division. Initium Onboard's business serves numerous rail customers, including East Coast, Eurostar, and Thalys. Adding these new rail companies to GuestLogix' current rail customers will elevate GuestLogix' leadership in this sector. The Company's Global Rail Division will focus on further penetrating the market, which the Company estimates as a 21 billion annual passenger-trip opportunity.

Through this acquisition, GuestLogix will also be well positioned to accelerate the progress of its OnTouch® merchandising platform. Initium Onboard has successfully deployed destination-based merchandising content, such as theme park passes and other attraction vouchers, for sale onboard with customers, such as Eurostar. Launched in 2010, this business unit is a revenue generator for Initium Onboard.

Both companies plan to provide a seamless transition for all Initium Onboard employees and customers. The Company will continue to service each travel operator's current retail solution developed by Initium Onboard as to not disrupt the current onboard and off board retailing programs. All customers will have access to a wider array of onboard retail technologies going forward.
Under the terms of the Private Placement, GuestLogix has issued 6.0 million common shares at a price of CAN$0.50 per share to Advanced Inflight Alliance AG. The common shares issued under the Private Placement will be subject to a four-month hold period. With the completion of the acquisition and private placement, GuestLogix has 74,575, 061 shares issued and outstanding.

About GuestLogix
GuestLogix, Inc. (, the leading global provider of onboard store technology and merchandising solutions, helps airlines and other travel operators create, manage, and control onboard retail environments tailored to their needs and their passengers. GuestLogix brings a decade of expertise as a trusted onboard transaction processing partner to airlines around the world. The Company's global headquarters and centre for product innovation is located in Toronto, Canada with regional head offices located in Dallas, Texas (serving Americas) London, UK (serving EMEA), and Hong Kong (serving Asia-Pacific). A sales and support office is located in Singapore. Logistics centres are situated in Toronto, Dallas, London and Seoul with a software development centre located in India.

© 2012 GuestLogix. All Rights Reserved. ®OnTouch is a trademark of GuestLogix Inc. and is registered in the United States and may be pending or registered in other countries. All other trademarks and trade names are the property of their respective owners.

Forward-Looking Statements
This news release includes certain forward-looking statements that are based upon current expectations including the anticipated benefits to GuestLogix of the acquisition of Initium Onboard, which involve risks and uncertainties associated with GuestLogix' business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate","believe","plan","estimate","expect","intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect GuestLogix' current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations including that GuestLogix may not realize all of the anticipated benefits from the acquisition of Initium Onboard as well as the matters discussed under "Risks and Uncertainties" in the GuestLogix management's discussion and analysis filed on July 16, 2012 with the regulatory authorities. GuestLogix assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, other than as required by applicable laws.

Kristen Dickson, TMX½Equicom
P: 416-815-0700 x273 - E: kdickson[.]

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GuestLogix Acquires U.K.-based Onboard Retail Technology Provider, Initium Onboard

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