Haynes Boone advised Satcom Direct in connection with its sale to Gogo Inc. (NASDAQ: GOGO). The transaction 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 combination of Satcom’s GEO satellite services with Gogo’s LEO satellite offerings is a significant step forward in expanding in-flight connectivity solutions. The deal will establish 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. "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."
"Haynes Boone’s full-service team provided the expert guidance we needed to navigate this complex deal," said Satcom Direct President Chris Moore. "Their in-depth industry knowledge and collaborative approach were invaluable in helping us achieve this successful outcome. We’re thankful for their partnership and dedication throughout the process."
Haynes Boone's team also included:
- Tax Counsel Danielle Marr
- Capital Markets Associate Logan Weissler
- Labor and Employment Partner Raquel Alvarenga and Associate Sean Lewis
- Employee Benefits Partners Susan Wetzel and Scott Thompson and Associate Isabella Blanes
- Environmental Partner Mary Mendoza and Associate Victor Salazar
- Intellectual Property Partner Gavin George and Associate Tanner Luttrull
- Government Contracts Partner Zach Prince, Counsel Dan Ramish and Associates Michael Maroulis and Scott Whitman
- HSR Partner Larry Shosid and Associates Hannah Shoss and Austria Arnold
The firm's strategic guidance helped navigate the complexities of the deal, which is designed to deliver significant scale and cost synergies. The transaction is expected to close by the end of 2024. It is the third major deal for Haynes Boone in the aviation industry this year, following the representation of Applied Avionics in its $385 million sale to Loar Group 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.