Private finance group Platinum Equity has announced that it has signed a definitive agreement to acquire IFE and connectivity provider Anuvu. Terms of the deal have not been made public.

Headquartered in Lombard, Illinois  Anuvu serves  150 airline and 30 cruise-line customers. The company operates two divisions, namely media technology services and connectivity.

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“Anuvu is a leader in delivering exceptional entertainment experiences to global aviation customers and has developed highly innovative and technologically advanced satellite connectivity and content delivery platforms,” said Platinum Equity Co-President Jacob Kotzubei. “As passenger traffic continues to grow, we are encouraged to see carriers making substantial new investments in both connectivity and entertainment, improving passenger and guest experiences. We look forward to working with Anuvu’s leadership team to capitalize on these tailwinds and other opportunities to grow the business.”

Joshua Marks, CEO of Anuvu, will continue in his role following the acquisition.

“We’ve made strong progress in recent years by investing in both technology and content, focusing on our core strengths in the aviation and cruise markets. We recently activated the Anuvu Constellation, providing dedicated aviation satellite capacity over North America. In parallel, we continue to expand our Media partnerships to license, localise and distribute distinctive content to the world’s leading airlines and cruise lines,” said Marks. “We are excited to partner with Platinum Equity to leverage their financial expertise, global capabilities, and operational know-how supporting fast-growing portfolio companies.”

Platinum Equity has deep experience investing in technology and media businesses. Its current portfolio includes Deluxe, a provider of end-to-end post-production services for content production studios.

“Anuvu’s long-standing customer relationships, talented employees and global footprint provide a strong platform for organic growth,” said Platinum Equity Managing Director Dan Krasner. “We also see opportunities to leverage Anuvu’s content and technology capabilities to expand further into adjacent markets, including non-theatrical verticals, media processing and delivery, advertising and other custom services.”

The acquisition is expected to close in the fourth quarter following regulatory approvals.

Drake Star is serving as the exclusive financial advisor to Anuvu.