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Business Combination (Tables) | 9 Months Ended
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Jun. 30, 2023
Business Combinations [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The acquisition is expected to strengthen Via LA's licensing capabilities, particularly in video, diversify its revenues, and reinforce its ability to develop new patent licensing programs. The total consideration for the acquisition was as follows (in thousands):
| Amount
Cash | $ | 135,739 |
Non-controlling interest in Via LA (24.8 million common equity units) | 24,815 |
Total amount paid to sellers | $ | 160,554 |
Less: amount deemed post-acquisition expense | (2,174) |
Total consideration paid to sellers | $ | 158,380 |
Assumed settlement of pre-existing relationships due to Dolby | 61,313 |
Total consideration | $ | 219,693 |
Less: unrestricted cash acquired | (80,633) |
Total consideration, net of unrestricted cash acquired | $ | 139,060 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary acquisition date fair values allocated to the net assets acquired:
Recognized Identifiable Assets Acquired and Liabilities Assumed | Purchase Price Allocation (Preliminary)
Cash and cash equivalents | $ | 80,633 |
Restricted cash | 143,564 |
Other current assets | 73,556 |
Intangible assets | 86,000 |
Goodwill | 56,683 |
Other non-current assets | 39,029 |
Amounts payable to patent administrative program partner | (199,955) |
Other current liabilities | (22,205) |
Non-current liabilities | (37,612) |
Purchase Consideration | $ | 219,693 |
The following table summarizes the preliminary fair values allocated to the various intangible assets acquired (in thousands) and the weighted-average useful lives over which they will be amortized using the straight-line method:
Intangible Assets Acquired | Purchase Price Allocation | Weighted-Average Useful Life (Years) |
Licensor Relationships – AVC & Other | $ | 36,000 |  | 13 |
Licensor Relationships - HEVC | 31,000 |  | 10 |
Implementer Relationships – AVC & Other | 12,000 |  | 13 |
Implementer Relationships - HEVC | 7,000 |  | 10 |
Total | $ | 86,000 |  | 12 |

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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