Acquisitions	9 Months Ended
Dec. 31, 2020
Business Combinations [Abstract]
Acquisitions	Note 12 — Acquisitions On November 18, 2020, the Company entered into an agreement to purchase the remaining 51% interest in Euro Infrastructure Co. from Eutelsat for €140.0 million subject to customary net working capital and net debt adjustments. The purchase price is expected to be funded with available cash, resulting in a cash outlay of €50.0 million, after consideration of approximately €90.0 million of Euro Infrastructure Co.’s cash on hand. Consummation of the acquisition is subject to customary closing conditions and is expected to close in the fourth quarter of fiscal year 2021. The initial accounting for this acquisition will begin after the closing of the acquisition. On December 20, 2020, the Company entered into an Agreement and Plan of Merger with RigNet, Inc. (RigNet), pursuant to which the Company has agreed to acquire RigNet in exchange for total consideration equal to the value of 0.1845 shares of the Company’s common stock for each share of RigNet common stock outstanding on the date of consummation of the acquisition. RigNet is a leading provider of ultra-secure, intelligent networking solutions and specialized applications. The Company will pay substantially all of the merger consideration at the closing of the acquisition in newly issued shares of the Company’s common stock, with cash amounts to be paid to RigNet stockholders in lieu of any fractional shares of the Company’s common stock. Consummation of the acquisition is subject to the expiration or termination of review under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, receipt of certain other material regulatory consents and approvals, absence of a material adverse effect with respect to the Company’s or RigNet’s business or financial condition and other customary closing conditions, and is expected to close in the first quarter of fiscal year 2022. The initial accounting for this acquisition will begin after the closing of the acquisition. The transaction implies an enterprise value for RigNet of approximately $221.8 million, based on the closing price of the Company’s common stock and the number of RigNet shares of common stock outstanding as of the date of the agreement and RigNet’s net debt as of September 30, 2020 (which consisted of approximately $92.2 million in principal amount of RigNet debt, net of cash). Assuming no material change in the number of RigNet shares outstanding at the closing, and no closing adjustments, and taking into account expected treatment of equity-based awards at the closing of the transaction, the Company would issue approximately 4.0 million shares of the Company’s common stock at the closing (which would have comprised approximately 5.5% of the Company’s outstanding common stock had the acquisition been consummated on December 31, 2020).

Acquisitions

9 Months Ended

Dec. 31, 2020

Note 12 — Acquisitions

On November 18, 2020, the Company entered into an agreement to purchase the remaining 51% interest in Euro Infrastructure Co. from Eutelsat for €140.0 million subject to customary net working capital and net debt adjustments. The purchase price is expected to be funded with available cash, resulting in a cash outlay of €50.0 million, after consideration of approximately €90.0 million of Euro Infrastructure Co.’s cash on hand. Consummation of the acquisition is subject to customary closing conditions and is expected to close in the fourth quarter of fiscal year 2021. The initial accounting for this acquisition will begin after the closing of the acquisition.

On December 20, 2020, the Company entered into an Agreement and Plan of Merger with RigNet, Inc. (RigNet), pursuant to which the Company has agreed to acquire RigNet in exchange for total consideration equal to the value of 0.1845 shares of the Company’s common stock for each share of RigNet common stock outstanding on the date of consummation of the acquisition. RigNet is a leading provider of ultra-secure, intelligent networking solutions and specialized applications. The Company will pay substantially all of the merger consideration at the closing of the acquisition in newly issued shares of the Company’s common stock, with cash amounts to be paid to RigNet stockholders in lieu of any fractional shares of the Company’s common stock. Consummation of the acquisition is subject to the expiration or termination of review under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, receipt of certain other material regulatory consents and approvals, absence of a material adverse effect with respect to the Company’s or RigNet’s business or financial condition and other customary closing conditions, and is expected to close in the first quarter of fiscal year 2022. The initial accounting for this acquisition will begin after the closing of the acquisition.

The transaction implies an enterprise value for RigNet of approximately $221.8 million, based on the closing price of the Company’s common stock and the number of RigNet shares of common stock outstanding as of the date of the agreement and RigNet’s net debt as of September 30, 2020 (which consisted of approximately $92.2 million in principal amount of RigNet debt, net of cash). Assuming no material change in the number of RigNet shares outstanding at the closing, and no closing adjustments, and taking into account expected treatment of equity-based awards at the closing of the transaction, the Company would issue approximately 4.0 million shares of the Company’s common stock at the closing (which would have comprised approximately 5.5% of the Company’s outstanding common stock had the acquisition been consummated on December 31, 2020).