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Acquisitions and Divestitures (Tables)

12 Months Ended

Aug. 31, 2023

Business Combinations [Abstract]

Summary of Preliminary Purchase Price Allocation

The following table summarizes the preliminary purchase price allocation for FieldWise at the acquisition date. The Company expects the purchase price allocation to be finalized by the end of fiscal 2024.

($ in thousands)		Total
Cash and cash equivalents		$	1,779
Accounts receivable			376
Inventories			2,651
Property and equipment			2,443
Deferred tax asset			94
Intangible assets			11,400
Goodwill			15,589
Accounts payable and accrued liabilities			(252	)
Deferred revenues			(1,229	)
Non-current deferred revenues			(230	)
Total purchase price			32,621

Summary of Identifiable Intangible Assets at Fair Value

The following table summarizes the identifiable intangible assets at fair value.

($ in thousands)		Weighted average useful life in years				Fair value of identifiable asset
Intangible assets:
Customer relationships			15.0			$	8,700
Developed technology			5.0				2,000
Tradenames		N/A					700
Total intangible assets			13.1			$	11,400

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- References

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- Definition

Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
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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

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-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
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