Business Combinations (Tables)

12 Months Ended

Jun. 30, 2019

The major classes of assets and liabilities, reconciled to total purchase consideration (in thousands):


Cash and cash equivalents	$	4
Accounts receivable, net		15,517
Inventories		11,678
Property and equipment		1,599
Intangible assets		30,370
Deferred tax asset		2,738
Other long-term assets		297
Accounts payable		(4,784)
Accrued payroll and related expenses		(2,116)
Deferred revenues—current		(924)
Accrued warranties		(2,068)
Advances from customers		(670)
Other accrued expenses and current liabilities		(1,074)
Deferred revenues—long term		(232)
Net assets acquired		50,335
Goodwill		30,132
Total consideration	$	80,467

The following table summarizes the fair value of acquired identifiable intangible assets as of the acquisition date (amounts in thousands):


	Weighted
	Average
	Lives	Fair Value
Amortizable assets:
Developed technology	10 years	$	14,210
Customer relationships/backlog	7 years		16,070
In-process research and development ("IPR&D")			90
Total intangible assets		$	30,370

The following unaudited pro forma results of operations assume the ETD acquisition had occurred on July 1, 2016 (in thousands):

The major classes of assets and liabilities, reconciled to total purchase consideration (in thousands):


Cash and cash equivalents	$	79,195
Accounts receivable		24,607
Inventories		27,495
Other current assets		7,450
Property and equipment		5,337
Intangible assets		74,800
Other long—term assets		201
Accounts payable		(5,044)
Accrued payroll and related expenses		(4,723)
Deferred revenues—current		(11,281)
Advances from customers		(13,784)
Other accrued expenses and current liabilities		(7,279)
Deferred revenues—long term		(3,225)
Deferred income tax liability		(9,580)
Other long—term liabilities		(14,004)
Net assets acquired		150,165
Goodwill		115,838
Total consideration	$	266,003

The following table summarizes the fair value of acquired identifiable intangible assets as of the acquisition date (amounts in thousands):


	Weighted	Gross
	Average	Value
	Lives	Carrying
Amortizable assets:
Developed technology	10 years	$	31,750
Customer relationships/backlog	7 years		27,550
In—process research and development (“IPR&D”)	5 years		3,200
Total amortizable assets			62,500
Non—amortizable assets:
Trademarks and trade names			12,300
Total intangible assets		$	74,800

The following unaudited pro forma results of operations assume the AS&E acquisition had occurred on July 1, 2016 (in thousands):