XML 98 R27.htm IDEA: XBRL DOCUMENT v2.4.0.8
Subsequent Event
9 Months Ended
Sep. 30, 2014
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events
On October 7, 2014, the Company acquired onPeak LLC and Travel Planners, Inc. for a purchase price of $43.1 million and $33.9 million, respectively, in cash, subject to certain adjustments. Both acquired companies provide event housing services in North America to the live event and exhibition industry. Due to the recent timing of the acquisition, the initial accounting for the business combination and purchase price allocation has not yet been finalized.
Effective October 10, 2014, Viad entered into an amendment (the “Amendment”) to the Company’s $130 million Credit Facility. The Company was able to exercise the accordion feature of the Credit Facility after the lenders committed an additional $50 million of credit on a pro rata basis. Accordingly, the Amendment increased the Company’s borrowing capacity under the Credit Facility from $130 million to $180 million.