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FARNBOROUGH, United Kingdom (TADAWUL:4280) - Gogo Business Aviation (NASDAQ: GOGO), a $1.11 billion market cap company with strong financial health according to InvestingPro analysis, and Satcom Direct have renewed their preferred supplier agreement with the Luxaviation Group for another three years. The partnership, which began in 2021, will continue to offer Luxaviation enhanced connectivity options through the Gogo Galileo phased array antennas and the North American Air-to-Ground network. This strategic move builds on Gogo’s solid financial foundation, with the company maintaining healthy liquidity as evidenced by its current ratio of 3.58 and generating $404.72 million in revenue over the last twelve months.
The agreement, effective as of today, ensures that Luxaviation will maintain access to advanced connectivity solutions, including the SD Plane Simple terminal series, various Software-as-a-Service applications, and flight deck connectivity. Luxaviation’s customers are set to benefit from Gogo Galileo’s half-duplex, HDX, and full-duplex FDX phased array terminals, all provided by a single source.
Stuart Williamson, MD of Luxaviation Technical Services, emphasized the importance of seamless connectivity for their customers’ transition from ground to air. The renewed agreement aims to provide uninterrupted broadband globally, with 24/7/365 customer support.
Gogo|Satcom Direct’s offerings are bolstered by its relationships with major satellite operators such as Intelsat, Viasat, and Eutelsat OneWeb, allowing for multi-orbit connectivity through GEO, LEO, or ATG networks. The service quality is tailored to individual customer needs, ensuring optimal connectivity.
Dave Falberg, SVP Sales, EMEA APAC at Gogo|Satcom Direct, stated that the expanded portfolio is designed to cater to all connectivity requirements and is future-proofed against the evolving demands of inflight connectivity. The company aims to continue meeting and exceeding Luxaviation’s needs with its comprehensive solutions.
The strategic transaction between Gogo Business Aviation and Satcom Direct in December 2024 has positioned the merged entity as a unique provider of multi-orbit, multi-band in-flight connectivity. The combined expertise of the two companies is expected to set new standards in reliability, security, and innovation for business and military/government aviation connectivity. With Gogo’s upcoming earnings release scheduled for February 26, 2025, investors can access detailed analysis and additional insights through InvestingPro’s comprehensive research reports, which provide in-depth coverage of over 1,400 US stocks.
The information in this article is based on a press release statement from Gogo Business Aviation Ltd.
In other recent news, Gogo Inc (NASDAQ:GOGO). has finalized its acquisition of Satcom Direct, a move that’s expected to generate $18 million in immediate annual cost savings and expand Gogo’s reach in the global business aviation and military markets. The $375 million cash transaction, supplemented by five million Gogo shares and potential additional payments, is projected to increase the company’s annual interest expense by approximately $25 million to $27 million. The acquisition is also anticipated to expedite the deployment of Gogo’s Galileo LEO connectivity product.
Following the acquisition, Gogo announced a series of executive changes. Chris Moore, the former President of Satcom Direct, has been appointed as the new CEO of Gogo, succeeding Oakleigh Thorne, who now serves as the Executive Chair of the Board. Other leadership transitions include Zachary Cotner taking over as CFO and Mike Begler as Executive Vice President and COO.
Gogo’s upcoming product launches remain on schedule, with its Galileo HDX LEO service set to begin shipping by the end of 2024 and the Gogo 5G network expected to launch in the second quarter of 2025. These recent developments are part of Gogo’s strategic efforts to strengthen its position in the communication services sector.
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