Acquisitions (Tables)

12 Months Ended

Jul. 31, 2021

The following table summarizes the preliminary fair value of the assets acquired and liabilities assumed in connection with the acquisition:


	Purchase Price Allocation (1)		Measurement Period Adjustments		Purchase Price Allocation (As adjusted)
Initial upfront payment	$	23,902,000	$	77,000	$	23,979,000
Hold back amount	5,000,000		(9,000)		4,991,000
Contingent earn-out consideration	8,500,000		—		8,500,000
Preliminary purchase price at fair value	$	37,402,000	$	68,000	$	37,470,000
Preliminary allocation of aggregate purchase price:
Cash and cash equivalents	$	1,391,000	$	—	$	1,391,000
Current assets	1,235,000		123,000		1,358,000
Property, plant and equipment	10,000		—		10,000
Deferred tax assets	286,000		27,000		313,000
Contract liabilities	(657,000)		9,000		(648,000)
Accrued warranty obligations	(750,000)		—		(750,000)
Other current liabilities	(1,166,000)		(9,000)		(1,175,000)
Non-current liabilities	(160,000)		—		(160,000)
Net tangible assets at preliminary fair value	$	189,000	150,000		$	339,000
Identifiable intangibles, deferred taxes and goodwill:							Estimated Useful Lives
Technology	$	15,300,000	$	—	$	15,300,000	15 years
Customer relationships	15,500,000		—		15,500,000		15 years
Trade name	800,000		—		800,000		20 years
Deferred tax liabilities	(8,374,000)		—		(8,374,000)
Goodwill	13,987,000		(82,000)		13,905,000		Indefinite
Preliminary allocation of aggregate purchase price	$	37,402,000	$	68,000	$	37,470,000

(1) As reported in the Company's Quarterly Report on Form 10-Q for the three and nine months ended April 30, 2021.