Subsequent Events	9 Months Ended
Mar. 31, 2020
Subsequent Events
Subsequent Events	(13) Subsequent Events As described in Note 7, the Company entered into a five-year revolving credit agreement in July 2019 which provides for a senior secured revolving credit facility under which the Company may borrow up to $250,000. In April 2020, the Company borrowed $100,000 under this credit facility. Although the Company currently does not have any anticipated need for this additional liquidity, it utilized the borrowing capacity under the credit agreement to provide enhanced financial flexibility due to uncertain market conditions arising from the COVID-19 pandemic. As of March 31, 2020, the Company’s primary sources of liquidity were $114,325 of cash and cash equivalents and $72,679 of total corporate investments. In April 2020, the Company acquired all of the shares outstanding of VidGrid, Inc. through a merger for purchase price consideration of $17,500, subject to customary escrow arrangements and purchase price adjustments. VidGrid, Inc. is a leading video platform provider that enables peer-to-peer video learning courses, transforming video into two-way communication. This transaction expands the Company’s product functionality around workplace video communication and reaffirms its commitment to stronger employee collaboration, engagement and retention while helping clients prepare for the workplaces of the future. The Company will account for the acquisition as a business combination in accordance with ASC 805: Business Combinations using the acquisition method of accounting and recognize assets and liabilities at fair value as of the date of acquisition. The acquisition will not have a material impact to the Company’s consolidated financial statements.

Subsequent Events

9 Months Ended

Mar. 31, 2020

(13) Subsequent Events

As described in Note 7, the Company entered into a five-year revolving credit agreement in July 2019 which provides for a senior secured revolving credit facility under which the Company may borrow up to $250,000. In April 2020, the Company borrowed $100,000 under this credit facility. Although the Company currently does not have any anticipated need for this additional liquidity, it utilized the borrowing capacity under the credit agreement to provide enhanced financial flexibility due to uncertain market conditions arising from the COVID-19 pandemic. As of March 31, 2020, the Company’s primary sources of liquidity were $114,325 of cash and cash equivalents and $72,679 of total corporate investments.

In April 2020, the Company acquired all of the shares outstanding of VidGrid, Inc. through a merger for purchase price consideration of $17,500, subject to customary escrow arrangements and purchase price adjustments. VidGrid, Inc. is a leading video platform provider that enables peer-to-peer video learning courses, transforming video into two-way communication. This transaction expands the Company’s product functionality around workplace video communication and reaffirms its commitment to stronger employee collaboration, engagement and retention while helping clients prepare for the workplaces of the future. The Company will account for the acquisition as a business combination in accordance with ASC 805: Business Combinations using the acquisition method of accounting and recognize assets and liabilities at fair value as of the date of acquisition. The acquisition will not have a material impact to the Company’s consolidated financial statements.