NKF with Gogo on the acquisition of Satcom Direct
Niederer Kraft Frey (“NKF”) advised Gogo as Swiss counsel on its definitive agreement to acquire Satcom Direct. This acquisition will 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 and will accelerate Gogo’s growth strategies and offering of integrated GEO-LEO satellite solutions and world-class customer support.
NKF team
The NKF team was led by corporate/M&A partner Jacques Bonvin (pictured), working with partner Andrea Wuerzner (corporate/M&A and finance), associate Boris Catzeflis (corporate/M&A and technology) and junior associate Julia Pennoni (corporate/M&A).
About the agreement
Under the terms of the agreement, Satcom Direct will receive USD 375 million in cash and five million shares of Gogo stock at closing, and up to an additional USD 225 million in payments tied to realizing certain performance thresholds over the next four years. 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.
Other advisors
Kirkland & Elli and Hogan Lovells are serving as legal advisors to Gogo. BofA Securities and Morgan Stanley & Co. LLC are serving as financial advisors to Gogo. Morgan Stanley Senior Funding, Inc., BofA Securities and Deutsche Bank Securities Inc. provided financing commitments to support the acquisition. Haynes Boone, LLP is serving as legal advisor, and J.P. Morgan is serving as financial advisor to Satcom Direct.
Gogo
Gogo is a provider of in-flight broadband Internet service and other connectivity services headquartered in Broomfield, Colorado.
Satcom Direct
Founded in 1997, Satcom Direct is a provider of fully integrated, end-to-end global satellite communications solutions costumized fot business aviation, government, land mobile and marine costumers.
