FOR IMMEDIATE RELEASE
CoKinetic Systems Corp. Completes New Round of Equity Financing
In Connection with Launch of New OpenIFE Service
White Plains, NY – June 30, 2011- CoKinetic Systems Corp., a leading global provider of in-flight entertainment software to some of the world’s most innovative airlines has completed a new round of equity financing. The new equity, totaling $3.8 million, will be used in connection with the launch of CoKinetic’s new OpenIFE service.
OpenIFE is a comprehensive software, media and content solution for in-flight entertainment systems that builds on the capabilities of CoKinetic’s award-winning AirPlay in-flight entertainment software. AirPlay, which was first deployed on Virgin America in 2007, is known for its ability to facilitate rapid development and updating of IFE systems, improved reliability, and significantly greater flexibility in design and functionality.
With AirPlay at its core CoKinetic’s new OpenIFE service will allow airlines to improve the passenger experience by providing highly targeted content to passengers and detailed and timely usage data to advertisers and transactional partners.
The new equity came in the form of both cash from new private and institutional investors and the conversion of notes and other obligations held by existing shareholders.
About CoKinetic Systems Corp.
CoKinetic Systems Corp., founded in 2001, is a closely-held corporation with headquarters in White Plains, NY and offices in Lake Forest, CA and Bangalore, India. A globally recognized leader in IFE software, CoKinetic’s AirPlay IFE engine has powered award winning IFE systems around the world since 2007. For more information, visit www.cokinetic.com or email press@cokinetic.com.
