AerData Acquires Majority Stake in Waviatech(Amsterdam, The Netherlands, August 11, 2010) -- AerData, the provider of CMS Asset Management software and back office services announced today that it has acquired a majority stake in Waviatech. Waviatech, based in the United Kingdom, is the developer and supplier of the STREAM Digital Aircraft Records software used by airlines, lessors and MROs to capture, index and manage aircraft and engine records. The existing management team at Waviatech will continue to manage and operate the business with AerData taking a seat on the Waviatech board.
Commenting on the agreement, Paul van Tol, Managing Director of AerData said: "AerData and Waviatech first announced a product partnership in 2008 and the excellent working relationship between both companies has led to the transaction we are announcing today. Through the acquisition of Waviatech and its STREAM software, combined with our existing CMS and EFPAC products, AerData can now deliver a total solution for the information requirements of aircraft and engine asset managers, operators and lessors."
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Karl Scanlon, Managing Director of Waviatech commented: "We are proud to align ourselves with the AerData team. Waviatech has created and used STREAM to capture and manage Technical Records for its own clients for the last eight years. We will continue to develop and provide STREAM for our customers but also provide integration into AerData's asset management and engine management systems, creating additional value propositions for existing and new clients."
With the acquisition, AerData will also add a considerable number of new clients from the airline sector, aircraft leasing companies and maintenance organisations to its existing global customer base.
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Source : AerData