Business
Gogo zooms 21% on sale of commercial aviation to Intelsat for $400M – Seeking Alpha
Gogo (NASDAQ:GOGO) soars 21% after-hours, in reaction to announcement that it has entered into a definitive agreement to sell its Commercial Aviation (CA) business to Intelsat S.A.
Gogo (NASDAQ:GOGO) soars 21% after-hours, in reaction to announcement that it has entered into a definitive agreement to sell its Commercial Aviation (CA) business to Intelsat S.A. (OTCPK:INTEQ) for $400M in cash.
As part of the agreement, Gogo will enter into a 10-year network services agreement under which Intelsat will have exclusive access to Gogo ATG services for the CA market in North America, subject to minimum revenue guarantees of $177.5M.
The transaction is expected to close before e…
