Pharus Advised Diio, LLC in its Sale to FlightGlobal, a Division of Reed Business Information and RELX Group (NYSE: RELX)
Pharus served as the exclusive strategic advisor to Diio, LLC in its successful sale to FlightGlobal, a division of Reed Business Information and RELX Group (NYSE: RELX).
The shareholders of Diio retained Pharus due to our comprehensive knowledge of the data intelligence and analytics sector. We executed a comprehensive M&A process that involved identifying and approaching a broad set of strategic and private equity buyers, spearheading marketing activities, leading due-diligence, and negotiating transaction terms. Diio CEO David Hoppin said, “Our transaction involved unusually complex shareholder issues. The deal would not have closed without Pharus’ expertise, effort and sheer stamina.”
The acquisition of Diio’s leading market intelligence tools strengthens FlightGlobal’s position as a provider of world-class air travel data and analytics solutions, complementing FlightGlobal’s existing portfolio of fleet, aircraft finance and schedules data services. Financial terms of the transaction were not disclosed.
Diio (Data In, Intelligence Out) is a world leader in aviation intelligence data, tools and technology used by more than 400 airlines, airports, manufacturers, policy makers, travel professionals and destination marketers worldwide, including 23 of the world’s top 25 airline groups. The company’s flagship Diio Mi service brings together schedules, fares and traffic data into a single online market intelligence toolset, used extensively by airlines and airports principally in North America. Diio also powers online data intelligence and analysis tools in cooperation with the International Air Transport Association (IATA) and Airlines Reporting Corporation (ARC). Diio is headquartered near Washington, DC.
FlightGlobal, part of Reed Business Information, helps aviation related businesses drive growth, assess risk and improve efficiency. The company’s solutions help its clients discover everything they need to know about the global fleet of aircraft and world schedules, as well as gain insight into market dynamics and drivers. Reed Business Information is part of RELX Group plc (NYSE: RELX), a leading global provider of data, information and solutions for professional customers. FlightGlobal is headquartered in London, UK with offices in New York, Atlanta, Washington DC, Hong Kong, Singapore and Tokyo.