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Acquisitions (Tables)

12 Months Ended

Jun. 24, 2023

Business Acquisition [Line Items]

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The adjusted purchase price paid for DSPG was $543.3 million. The final purchase price allocation is as follows (in millions):
 

		Final As Adjusted June 25, 2022
Cash and cash equivalents		$	40.5
Short-term investments			71.9
Accounts receivable, net			12.9
Inventory			22.6
Prepaid expenses and other current assets			4.0
Property and equipment			5.9
Intangible assets			212.0
Right-of-use lease asset			9.8
Severance pay fund			16.2
Deferred tax asset			6.7
Non-current other assets			2.3
Total identifiable assets acquired			404.8
Accounts payable			(6.7	)
Other accrued expenses			(19.8	)
Short-term lease liabilities			(1.5	)
Long-term lease liabilities			(8.2	)
Accrued severance			(16.4	)
Deferred tax liability			(39.4	)
Other long-term liabilities			(6.1	)
Total liabilities			(98.1	)
Net identifiable assets acquired			306.7
Goodwill			236.6
Net assets acquired		$	543.3

DSP Group, Inc [Member]

Business Acquisition [Line Items]

Summary of Estimated Fair Value of Intangible Assets

The following table summarizes the estimated fair value of the intangible assets as of the DSPG Closing Date (in millions):

		Estimated Weighted Average Useful Lives in Years				Estimated Fair Value
Developed technology			5.2			$	150.0
Customer contracts and related relationships			4.0				45.0
In process research and development		N/A					16.0
Trade names			1.0				1.0
Estimated fair value of acquired intangibles						$	212.0

Summary of Unaudited Pro Forma Financial Information Presents Combined Results of Operations

The unaudited supplemental pro forma financial information for the periods presented is as follows (in millions):

		2022				2021
Revenue		$	1,802.6			$	1,466.0
Net income (loss)		$	263.4			$	(6.7	)

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