Item 2.01 Completion of Acquisition or Disposition of Assets.
On February 27, 2009, pursuant to a Stock Purchase Agreement (the "Purchase Agreement"), dated as of February 27, 2009, that we entered into with Stichting Administratiekantoor Mach 6, a foundation (stichting) incorporated under the laws of the Netherlands, P.Visser Beheer B.V., a private company with limited liability incorporated under the laws of the Netherlands ("Visser Beheer"), Post Beheer B.V., a private company with limited liability incorporated under the laws of the Netherlands ("Post Beheer" and, together with Visser Beheer, the "Sellers"), Mr. Petrus Johannes Anthonius Visser, Mr. Albert Jan Post and B.V. Mach 6 ("Mach6"), we acquired 100% of the shares of Mach6.
Pursuant to the terms of the Purchase Agreement, we acquired Mach6 for a purchase price of $5.9 million (which was funded through our existing cash position), subject to a net asset adjustment. The Sellers can also receive up to 300,000 shares of our common stock, subject to an earn-out based on certain net income milestones, which must be achieved within 12 months.
A copy of the press release issued by us on March 2, 2009, announcing the closing of our acquisition of Mach6, is filed herewith as Exhibit 99.1 and is incorporated herein by reference.
Item 8.01 Other Events.
(d) Exhibits.

Exhibit Number Description

99.1 Press Release, dated March 2, 2009, entitled Globecomm Systems Acquires Mach6

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