Kirkland Advises Gogo on Acquisition of Satcom Direct
Kirkland & Ellis advised Gogo Inc. (NASDAQ: GOGO) on its definitive agreement to acquire Satcom Direct, to create the only in-flight connectivity provider able to satisfy the performance and cost needs of every segment of the global business aviation and military/government mobility markets. Under the terms of the agreement, Satcom Direct will receive $375 million in cash and five million shares of Gogo stock at closing, and up to an additional $225 million in payments tied to realizing certain performance thresholds over the next four years. The transaction will be financed with a combination of cash-on-hand and $275 million in committed new debt. The transaction has been unanimously approved by the board of directors of Gogo and remains subject to regulatory approvals and other customary closing conditions, and is expected to close by the end of 2024.
The Kirkland team was led by corporate partners Ben Hardison, Doug Bacon and John Pitts and associate Kersten Kober; debt finance partners Rachael Lichman and Osaro Aifuwa; capital markets partner Matt Pacey; and tax partners David Wheat and Joe Tobias.
