Parties
Company
Gogo Inc.
Company
Satcom Direct
On September 30, 2024, Gogo Inc. (NASDAQ: GOGO) entered a definitive agreement to acquire Satcom Direct for USD 375 million (approximately CAD 517 million), along with five million shares of Gogo stock. Satcom Direct was eligible for an additional USD 225 million (around CAD 310 million) contingent on performance milestones. This acquisition expanded Gogo's footprint globally, including Canada, where both companies operated. Gogo provided air-to-ground (ATG) connectivity to Canadian aircraft, while Satcom Direct offered satellite-based in-flight services to private jet operators across Canada.
The transaction, financed with cash-on-hand and USD 275 million (CAD 379 million) in new debt, positioned Gogo to deliver integrated low-Earth orbit (LEO) and geostationary (GEO) satellite solutions. The combined company was projected to generate approximately USD 890 million (CAD 1.23 billion) in revenue for 2024.
The deal, expected to close by the end of 2024, had legal counsel from Kirkland & Ellis LLP, Hogan Lovells LLP, and McCarthy Tétrault LLP advising Gogo. Satcom Direct was represented by Haynes Boone LLP. Financial advisors included BofA Securities, Morgan Stanley & Co. LLC, and J.P. Morgan?.
Deal Type
Merger & AcquisitionIndustry
Tech/Computer/ITTransaction
$ 517,000,000Deal Status
ActiveClosing Date