Gogo acquires Satcom Direct for $375M cash plus stock; total consideration up to $600M

Gogo Inc.

$375M cash + 5M Gogo shares at closing; earnout up to $225M tied to broadband customer thresholds.
Expected to close end 2024, subject to regulatory approvals (HSR, FCC) and customary conditions.
Satcom Direct 2024E revenue ~$485M, EBITDA margin ~17%; combined pro forma revenue ~$890M, margin ~24%.
Annual run-rate cost synergies $25–30M within two years post-close; immediately accretive to EPS and FCF.
Financed with $275M new debt and cash; net leverage ~4x post-close, targeting 2.5–3.5x within 2 years.

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