IRVING, Texas-GTE Corp. sold its GTE Airfone Inc. subsidiary on Thursday for an undisclosed amount to Oak Hill Capital Partners L.P. The sale is part of a previously announced restructuring effort.
GTE Airfone is the largest provider of airline passenger communications systems. Airfone provides in-flight voice and data services to 61 percent of North American commercial aircraft, said GTE.
Oak Hill Partners is a $1.6 billion private equity partnership. “Our objective is to expand market reach and enhance its service and product offerings so that Airfone is an even more important and convenient part of the air-travel experience,” said Oak Hill’s Daniel L. Doctoroff.
