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Subsequent Events
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9 Months Ended |
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Mar. 31, 2015
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| Subsequent Events [Abstract] | |
| Subsequent Events | Note 25 – Subsequent Events Harman Finance On April 21, 2015, Harman Finance International, S.C.A. (“Harman Finance”) was organized under the laws of Luxembourg. Harman Finance is a wholly-owned subsidiary of Harman. Harman Finance was formed so that it may issue from time to time debt securities that will be guaranteed on a full and unconditional basis by Harman (but no other subsidiaries of Harman). Harman Finance is a finance subsidiary and has no assets, operations, revenues or cash flows other than those that may arise relating to the issuance, administration and repayment of any debt securities that it may issue that are guaranteed by Harman. Dividend Declaration On April 30, 2015 we declared a cash dividend of $0.33 per share for the quarter ended March 31, 2015. The quarterly dividend will be paid on May 26, 2015 to each stockholder of record as of the close of business on May 11, 2015. Acquisition of Symphony Teleca Corporation On April 8, 2015, we acquired all of the outstanding shares of Symphony Teleca Corporation (“STC” or the “STC Acquisition”), a global software services company for an estimated total base purchase price of $734.6 million (the “STC Purchase Price”), of which $499.4 million was paid at closing, consisting of $307.6 in cash, of which $300.0 million was funded through a drawdown on our revolving credit facility and $7.6 million was in cash on hand, and $191.8 million was in shares of our common stock. Approximately $115.6 million of third-party debt was assumed and paid off at closing. We also acquired $62.0 million of cash. The STC Acquisition is also subject to an earn-out which will be based upon the achievement of a calendar year 2015 revenue target. The remainder of the STC Purchase Price, including any additional earn-outs will be paid in cash in the third quarter of fiscal year 2016. The operating results of STC will be included in a new reportable segment titled Services. |