Shares of Guestlogix (TSX:GXI) are up again today after the company announced it has partnered with French-based multinational Thales to integrate Guestlogix’s Transaction Processing Engine into Thales’ TopSeriesAtrademark IFEC systems, a move that will allow payments to be accepted through seatback screens.
The contract, which is for a term of ten years, will begin in July. Management says the deal will see Guestlogix’s technology installed in many of the world’s leading airlines.
CEO Brett Proud says the agreement with Thales further cements Guestlogix’s foothold in the space.
“Guestlogix takes pride in its industry-leading position in the onboard retail and payment technology market and is elated to have secured this win with Thales, another company that is synonymous with onboard innovation,” he said. “This integration represents an extraordinary new milestone that brings onboard payment to a vast number of globally diverse airline passengers. This partnership strengthens both companies’ abilities to thrive in the industry, while succeeding at our mission to increase ancillary revenue potential for the global airline market.”
Founded in 2000, French-based Thales Group designs and builds electrical systems for the aerospace industry. The company supplies many of the device and equipment used by France’s armed forces, and competes with other multinationals such as Panasonic and Rockwell Collins in the in-flight entertainment space.
At press time, shares of Guestlogix were up 8.2% to $1.06.