Gogo to acquire Satcom Direct in $375M deal

Gogo (NASDAQ:GOGO) announced today that it has entered into a definitive agreement to acquire Satcom Direct, a leading provider of geostationary satellite in-flight connectivity services.

The acquisition deal, valued at a substantial $375 million in cash along with five million shares of Gogo stock, also includes up to an additional $225 million contingent on achieving specific performance milestones over the next four years.

“This transaction accelerates our growth strategies of expanding our total addressable market to include the 14,000 business aircraft outside North America, and delivering solutions that meet the needs of every segment of the BA market,” said Oakleigh Thorne, Gogo Chairman and CEO.

"Together, Gogo and Satcom Direct will offer integrated GEO-LEO satellite solutions that provide the highest performance of any satellite solution."

The transaction is expected to close in the fourth quarter of 2024, pending regulatory approvals.