A team of Haynes Boone lawyers assisted Satcom Direct in connection with its sale to Gogo Inc. (NASDAQ: GOGO). The transaction, which was signed in October, closed on Dec. 4, 2024.
The sale includes $375 million in cash and five million shares of Gogo stock. Satcom Direct could also receive up to an additional $225 million based on performance milestones through 2028. The transaction was funded with $250 million in debt and $150 million in cash from Gogo's balance sheet.
Satcom’s GEO satellite services combined with Gogo’s LEO satellite offerings represent a significant step forward in expanding in-flight connectivity solutions. The deal establishes Gogo as the only multi-orbit, multi-band in-flight connectivity provider, serving both the business aviation and military/government mobility markets.
The Haynes Boone deal team was led by Mergers and Acquisitions Partner Brent Beckert and Corporate Partner Kenric Kattner. It was supported by M&A Senior Counsel Steven Buxbaum, Corporate Counsel Kourtney Lyda and M&A Associates Joshua Reisman, Spencer Bateman, Ryan Ward and Janet Wyse.
"This transaction represents a transformative step for Satcom Direct and the broader in-flight connectivity market," Kattner said at the time of signing. "We are honored to have worked alongside the Satcom team and grateful for their trust in Haynes Boone. It's been a privilege to contribute to such a pivotal moment in their journey."
This is the latest in a string of major deals for Haynes Boone in the aviation industry this year, following the representation of Applied Avionics in its $385 million sale to Loar Group, advising Micropac Industries in its take-private sale to Teledyne Technologies and the sale of Erickson Incorporated to Helicopter Express, LLC.
Haynes Boone’s M&A Practice Group has comprehensive experience handling middle-market deals, having helped clients close more than 500 transactions in the last five years, with an aggregate value exceeding $50 billion. The firm routinely represents private equity firms, closely held corporations, founders, large financial institutions and Fortune 500 public companies.
