Subsequent Events |
3 Months Ended |
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Mar. 31, 2016 | |
| Subsequent Events [Abstract] | |
| Subsequent Events |
Subsequent Events
EMC Acquisition Agreement
On May 9, 2016, the Company announced it entered into an agreement to purchase Emerging Markets Communications LLC (EMC), a land and maritime satellite communications services company, in exchange for the payment by the Company of stock and cash and the assumption by the Company of certain legacy EMC debt. The total aggregate transaction value is at $550.0 million, subject to customary working capital and other adjustments. The agreement is subject to customary regulatory approvals. The transaction is expected to close in the third quarter of 2016.
Share Repurchase Program
For the period subsequent to March 31, 2016 through the date of this filing, the Company repurchased 614,087 shares for a weighted average price of $8.48 for total proceeds of $5.2 million pursuant to its share repurchase program approved in March 2016.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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