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Hughes Telematics, Inc. and Polaris Acquisition
Corp. ("Polaris") (AMEX: TKP.U) have entered into a definitive
agreement whereby the two companies will merge. The resulting public
company is yet to be named. After filing a proxy statement and receiving
approval from the Securities and Exchange Commission, Polaris will mail
the proxy statement to its stockholders to seek shareholder approval for
the transaction. The parties currently anticipate closing the
transaction in early 2009.
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