Dave Davis To Serve As Vice President & Chief Financial Officer
Of Global Eagle Entertainment Inc. After Closing Of Business
Combination
LOS ANGELES, Nov. 16, 2012 /PRNewswire/ -- Global Eagle
Acquisition Corp. (NASDAQ: EAGL; EAGLW; EAGLU) (Global Eagle) today
announced that Dave Davis, former
chief financial officer of Northwest Airlines Corporation and US
Airways Group and current director of Row 44 Inc. (Row 44), will
join the company as Vice President and Chief Financial Officer upon
closing of its proposed business combination transaction in which
Global Eagle will acquire Row 44 and 86% of the issued and
outstanding shares of Advanced In-flight Alliance AG (GR:DVN1)
(AIA).
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On November 8, 2012, Global Eagle
announced the signing of definitive agreements for the business
combination to create the largest entertainment and connectivity
platform for the worldwide airline industry. AIA is the leading
supplier of games, movies, general entertainment and applications
to the airline industry, serving more than 130 airlines worldwide.
Row 44 is a leading satellite-based broadband service provider to
the global airline industry, with its in-flight entertainment
connectivity system currently installed on more than 400 aircraft
that operate over land and sea worldwide.
Global Eagle Acquisition Corp. will be renamed Global Eagle
Entertainment Inc. upon the closing.
Prior to the closing of the business combination, Davis will
serve as Chief Financial Officer of Row 44, reporting to
John LaValle, Chief Executive
Officer of Row 44. Upon closing, Davis will transition to
take on the position of Vice President and Chief Financial Officer
of Global Eagle Entertainment Inc. In his role at Global
Eagle, Davis will be responsible for Global Eagle's group finance
functions including financial planning and analysis,
controllership, tax, treasury, investor relations, and mergers and
acquisitions activity.
"As the in-flight entertainment experience continues to evolve
at a rapid pace, Dave's keen insight will be crucial in developing
the innovative products and services that move our business
forward," said Ed Shapiro, Chairman
of the Board of Row 44 and Chairman-designate of Global Eagle
Entertainment. "Not only have I known and respected him for many
years, but as a member of the Row 44 board, his advice has been
invaluable."
Added LaValle: "Dave brings us a history of leading the
financial strategy and stewardship of numerous successful private
and public companies. It is this unparalleled track record,
combined with his reputation as one of the airline industry's most
respected financial executives, that made him our hands-down choice
as we endeavor to build the largest integrated entertainment
platform in the business."
"This is an incredibly exciting time in the in-flight
entertainment space and I'm thrilled to be taking on a key role at
Global Eagle Entertainment," said Davis. "I believe there is a lot
of runway ahead for this business, and I look forward to working
with Ed, John and the rest of the executive team as we define
Global Eagle Entertainment's future and take the in-flight
entertainment experience to a whole new level."
Most recently, Davis served as Senior Vice President, Enterprise
Finance, at Best Buy, Inc. in Minneapolis.
Davis has accumulated years of experience in leading the finance
functions and strategic planning in the airline industry. He joined
US Airways Group in 2002 as Vice President, Financial Planning
& Analysis before being promoted to Executive Vice President,
Finance and Chief Financial Officer in 2004. A year later, Davis
joined Northwest Airlines Corporation as Senior Vice President,
Finance and Controller. From June of 2007 to November of 2008, he
served as Executive Vice President, Chief Financial Officer where
he oversaw the Northwest Delta merger process.
From 2008 to 2010, Davis served as Senior Managing Director of
Perseus LLC, a private equity firm with over $1.6 billion investment until he cofounded
Bearpath Capital, LLC, a private equity and management advisory
firm. While at Perseus, Davis led the firm's investment in, and
currently serves as a board member of, Lumexis Corporation, a
provider of in-flight entertainment systems for commercial
aircraft. Davis also became a board member of Row 44 in 2008 and
has been working closely with the company on its expansion in the
in-flight marketplace.
Davis brings over 20 years of in-depth experience in financial,
operational and business management expertise to Global Eagle.
Davis has also held key finance posts at Budget Group (home to
Budget Rent-A-Car and Ryder Truck Rental) and Kraton Polymers, LLC,
the world's leading manufacturer of SBCs (Styremic Block
Copolymers). Early in his career, he also worked for Rockwell
International as a Flight Planning Engineer before moving to BF
Goodrich Aerospace, Inc. as a Marketing Engineer. Davis is a
graduate of the University of Minnesota
earning a Bachelor of Aerospace Engineering and Mechanics degree.
He also earned his MBA at the University of
Minnesota's Carlson School of
Management.
About Row 44
Row 44 is a satellite-based broadband
services provider to the global commercial airline industry. Its
network enables airlines to connect to orbiting Ku-band satellites
and to communicate with existing satellite ground earth stations.
Row 44's in-cabin communication link currently provides airline
passengers with Internet access, live television, shopping and
flight and destination information. Row 44 was formed in 2004, its
WiFi connectivity system was first deployed by a domestic
commercial airline in 2009 and its broadband services were fully
operations in 2010. Currently installed on more than 400 aircraft,
Row 44 has the largest fleet of connected entertainment enabled
planes that operate over land and sea worldwide.
About Global Eagle
Global Eagle Acquisition Corp. is a special purpose acquisition
company formed for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination involving Global Eagle Acquisition
Corp. and one or more businesses. Global Eagle Acquisition Corp. is
a Delaware corporation formed in
2011. It raised approximately $190
million in its IPO in May 2011
and its securities are traded on NASDAQ under the ticker symbols
EAGL, EAGLW and EAGLU.
ADDITIONAL INFORMATION ABOUT THE BUSINESS COMBINATION AND WHERE
TO FIND IT
Global Eagle has filed with the Securities and Exchange
Commission (SEC) a preliminary proxy statement of Global Eagle in
connection with the proposed business combination and will mail a
definitive proxy statement and other relevant documents to its
stockholders. Global Eagle stockholders and other interested
persons are advised to read the preliminary proxy statement, and
amendments thereto, and, when available, the definitive proxy
statement in connection with Global Eagle's solicitation of proxies
for the special meeting to be held to approve the business
combination because the proxy statement will contain important
information about AIA, Row 44, Global Eagle and the proposed
business combination. The definitive proxy statement will be mailed
to stockholders of Global Eagle as of a record date to be
established for voting on the business combination. Stockholders
will also be able to obtain copies of the proxy statement, without
charge, once available, at the SEC's Internet site at
http://www.sec.gov, or by directing a request to: Global Eagle
Acquisition Corp., 10900 Wilshire Blvd., Suite 1500, Los Angeles, CA 90024. Attn.: James A. Graf, Chief Financial Officer.
PARTICIPANTS IN THE SOLICITATION
Global Eagle and its directors and officers may be deemed
participants in the solicitation of proxies to Global Eagle's
stockholders with respect to the transaction. A list of the names
of those directors and officers and a description of their
interests in Global Eagle is contained in the proxy statement for
the proposed business combination.
FORWARD LOOKING STATEMENTS
This press release may include "forward looking statements"
within the meaning of the "safe harbor" provisions of the United
Stated Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by the use of words
such as "anticipate", "believe", "expect", "estimate", "plan",
"outlook", and "project" and other similar expressions that predict
or indicate future events or trends or that are not statements of
historical matters. Such forward looking statements with respect to
the timing of the proposed business combination with Row 44 and
AIA, as well as the expected performance, strategies, prospects and
other aspects of the businesses of Global Eagle, AIA, Row 44 and
the combined company after completion of the proposed business
combination, are based on current expectations that are subject to
risks and uncertainties.
A number of factors could cause actual results or outcomes to
differ materially from those indicated by such forward looking
statements. These factors include, but are not limited to: (1) the
occurrence of any event, change or other circumstances that could
give rise to the termination of the merger agreement with Row 44 or
the stock purchase agreement for the acquisition of shares of AIA
(the "Business Combination Agreements"), (2) the outcome of any
legal proceedings that may be instituted against Global Eagle, AIA,
Row 44 or others following announcement of the Business Combination
Agreements and transactions contemplated therein; (3) the inability
to complete the transactions contemplated by the Business
Combination Agreements due to the failure to obtain approval of the
stockholders of the Global Eagle or other conditions to closing in
the Business Combination Agreement, (4) delays in obtaining,
adverse conditions contained in, or the inability to obtain
necessary regulatory approvals or complete regulatory reviews
required to complete the transactions contemplated by the Business
Combination Agreements; (5) the risk that the proposed transaction
disrupts current plans and operations as a result of the
announcement and consummation of the transactions described herein;
(6) the ability to recognize the anticipated benefits of the
business combination, which may be affected by, among other things,
competition, the ability of the combined company to grow and manage
growth profitably, maintain relationships with suppliers and obtain
adequate supply of products and retain its key employees; (7) costs
related to the proposed business combination; (8) changes in
applicable laws or regulations; (9) the possibility that AIA and
Row 44 may be adversely affected by other economic, business,
and/or competitive factors; and (10) other risks and uncertainties
indicated from time to time in the proxy statement filed by Global
Eagle with the SEC, including those under "Risk Factors" therein,
and other filings with the SEC by Global Eagle.
Reads are cautioned not to place undue reliance upon any
forward-looking statements, which speak only as of the date made,
and Global Eagle, AIA and Row 44 undertake no obligation to update
or revise the forward-looking statements, whether as a result of
new information, future events or otherwise.
SOURCE Global Eagle Acquisition Corp.