[SatNews] It's now official, the purchase has been completed...

EchoStar Corporation (NASDAQ: SATS ) and Hughes Communications, Inc. (NASDAQ: HUGH) have announced the successful completion of EchoStar’s acquisition of Hughes. The combined companies will create a powerhouse in satellite based digital video and broadband technologies and services. Under the terms of the transaction, Hughes’ shareholders will receive $60.70 per share without interest, which represents a premium of 31 percent over Hughes' unaffected closing share price of $46.43 on January 19, 2011. The funding of the acquisition is being supported by the recent successful placement of $1.1 billion of senior secured notes and $900 million of senior unsecured notes.

“This strategic combination will significantly expand our know-how to develop exciting new video and data products and solutions, opening up global market opportunities that leverage our leadership in the delivery of innovative video and broadband data services,” said Michael Dugan, Chief Executive Officer and President of EchoStar. “Hughes is the world’s leading provider of satellite broadband for home and office, with innovative network technologies, managed services and solutions for enterprises and governments globally. The two companies together will have an extensive fleet of owned and leased satellites, experienced personnel and com munications facilities around the world, creating a global leader in video and data transport.”