CHICAGO, March 14, 2016 /PRNewswire/ -- Gogo (NASDAQ: GOGO), the global leader in providing broadband connectivity solutions and wireless entertainment to the aviation industry, announced today that it has signed a term sheet with Beijing based Shareco Technologies to install its 2Ku in-flight connectivity technology on 50 commercial aircraft for Shareco's airline partners, including Hainan Airlines and Beijing Capital Airlines.
This is the largest announced in-flight connectivity deal in China and the first airline deal for Gogo in China. In addition to in-flight connectivity, Gogo will also provide its wireless in-flight entertainment solution – Gogo Vision – for Shareco to install on these aircraft.
"We are extremely excited to partner with Shareco to deliver in-flight connectivity to passengers in China," said Gogo's president and CEO, Michael Small. "2Ku was built on the premise of being able to deliver an experience similar to what passengers experience on the ground all over the world including the Chinese market. Gogo will help assure that Shareco is at the leading edge of in-flight connectivity technology today and in the future."
Beijing Shareco Technologies Co., Ltd. is a leader at providing in-flight entertainment and connectivity related services to Chinese and international commercial airlines. Gogo and Shareco will work together on necessary regulatory approvals to install the technology on these aircraft. The goal is to install all 50 aircraft within two years following execution of a definitive agreement.
"Shareco is a high-tech company dedicated to building an ecosystem in the cabin that will create unique in-flight experiences which will benefit both airlines and passengers," said Pan Yunbin, CEO of Shareco. "We have been looking for great partners to find the best that can customize in-flight connectivity and in-flight entertainment solutions, as well as other things the passengers may be interested in. We believe that Gogo, as a pioneer in this field, is one of the best at providing these services."
With more than two decades of experience, Gogo is the leader in in-flight connectivity and wireless entertainment services for commercial and business fleets around the world. Gogo connects aircraft, providing its aviation partners with the world's most powerful network and platform to help optimize their operations. Gogo's superior technologies, best-in-class service, and global reach help planes fly smarter, our aviation partners perform better, and their passengers travel happier.
Today, Gogo has partnerships with 14 commercial airlines and is installed on more than 2,500 commercial aircraft. More than 6,800 business aircraft are also flying with its solutions, including the world's largest fractional ownership fleets. Gogo also is a factory option at every major business aircraft manufacturer. Gogo has more than 1,000 employees and is headquartered in Chicago, IL, with additional facilities in Broomfield, CO, and various locations overseas. Connect with us at www.gogoair.com and business.gogoair.com
About Beijing Shareco Technologies Co., Ltd. (Shareco)
Founded in August, 2012, Beijing Shareco Technologies Co., Ltd. has substantial experience in providing in-flight entertainment related services to Chinese and international commercial airlines through in-flight connectivity, content on the tablets it distributes for passengers to use, and e-commerce, among other things. By building up an ecosystem in the cabin, Shareco connects the demands of passengers with business partners as providers, extending services during flight to non-flying time of passengers. It has contracts with more than 10 airlines within China. It has planned to invest approximately $152.7 million to connect 100 aircraft within two years with the possibility of connecting up to 1,000 aircraft. The company distributes tablets on more than 200 aircraft and more than 800 flights. The company is headquartered in Beijing, China, with offices and teams located in Shenzhen and Shanghai.
Find out more at: www.shareco.cn Follow Shareco on Twitter：@SharecoTech
Safe Harbor Statement
Certain disclosures in this press release include certain "forward-looking statements" within the meaning of the federal securities laws that are based largely on our current expectations and reflect various estimates and assumptions by the Company. Forward-looking statements are subject to known and unknown risks, trends and uncertainties, many of which may be beyond our control, that could cause actual results and achievements to differ materially from those expressed in such forward-looking statements.Such risks, trends and uncertainties include those described under the heading "Risk Factors" in the Company's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on February 25, 2015. The words "may," "might," "will," "could" "should," "estimate," "project," "plan," "anticipate," "expect," "intend," "outlook," "seek," "designed," "assume," "implied," "believe" and similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on such forward-looking statements, which are being made as of the date of this press release. Any forward-looking information presented herein is made only as of the date of this press release and we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.