Why Gogo's Stock Is Trading Higher Today

Gogo Inc. GOGO shares are trading higher on Tuesday after it was announced Intelsat is acquiring the commercial aviation business of Gogo for $400 million.

Gogo is an in-flight connectivity system and service provider. The company through its subsidiaries offers aero communications, in-flight broadband, and wireless in-cabin digital entertainment solutions for the aviation industry. Its business segments include; Commercial Aviation North America, Commercial Aviation Rest of World, and Business Aviation.

The company offers connectivity and entertainment services to commercial airlines flying routes within North America, satellite-based connectivity and entertainment services to foreign-based commercial airlines and North American-based commercial airlines flying outside North America, and a variety of in-flight Internet connectivity and other voice and data communications products and services.

Gogo's stock traded up 23.93% at $6.37 per share at the time of publication on Tuesday. The stock has a 52-week high of $7.23 and a 52-week low of $1.33.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsTravelGeneralIntelsatwhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!