Globecomm Systems Inc. (NASDAQ: GCOM) has acquired privately held Telaurus Communications LLC (Telaurus), a telecommunications provider to the maritime market.

The purchase price was $6.5 million in cash to be funded through Globecomm's existing cash position. The shareholders of Telaurus can also receive shares of Globecomm common stock and warrants to purchase Globecomm common stock, subject to an earn-out, based on certain income milestones which must be achieved within the next twelve months. Telaurus is a service provider with 100 percent of its revenues concentrated in the maritime marketplace. The company employs approximately 28 staff and had unaudited revenues for the twelve-months ended December 31, 2008 of approximately $12.4 million. The transaction is anticipated to be immediately accretive to Globecomm's diluted earnings per share. Telaurus further expands Globecomm's strategy of growing its recurring, higher margin service revenue base. Globecomm recently acquired Mach6, which is currently advancing development of maritime broadband services as a significant element of its business. The Telaurus acquisition builds on Mach6's maritime service offering and provides the Company with a major footprint in the maritime marketplace. Telaurus currently provides communications to over 1,850 vessels, with approximately 1,650 active at any given time.