Gogo Buying Satcom Direct

Gogo expects a planned cash and stock purchase of Satcom Direct will close by year's end, it said Monday. Gogo said the addition of Satcom Direct would let it operate in business aviation and military/government mobility markets. In addition, Gogo said it was paying $375 million in cash and five million shares of Gogo stock at closing, with the deal also providing for another $225 million in payments tied to reaching certain performance thresholds over the next four years. Gogo Chairman/CEO Oakleigh Thorne said New Gogo would offer integrated geostationary orbit/low earth orbit services.