Item 8.01 Other Events.
On May 29, 2009, the Company, acting through its wholly owned subsidiary Telaurus, LLC, acquired the entire business operations of Telaurus Communications LLC (the "Seller"), a privately owned company, including all of the issued stock of the Seller's wholly-owned subsidiary Telaurus Communications Pte. Ltd., a company incorporated in Singapore.
Pursuant to the terms of the acquisition, the Company acquired the entire business operations of the Seller for a cash purchase price of $6.5 million (funded through the Company's existing cash position), subject to adjustment based on a working capital formula. The Seller also is entitled to receive shares of the Company's common stock and warrants to purchase shares of the Company's common stock, subject to an earn-out based upon the acquired business achieving certain earnings milestones within twelve months following the closing.
A copy of the press release issued by the Company on June 1, 2009, announcing the closing of the acquisition is filed herewith as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. Item 9.01 Financial Statements and Exhibits

(d) Exhibits. Exhibit Number Description 99.1 Press Release, dated June 1, 2009, entitled Globecomm Systems Acquires Telaurus Communications LLC

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