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Business Combinations (Tables) | 6 Months Ended
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Jun. 30, 2018
Business Combinations [Abstract] |
Schedule of Business Acquisitions by Acquisition, Consideration | The following table summarizes the fair value of purchase price consideration to acquire Exar (in thousands):
|  | Amount
Cash (1) |  | $ | 688,114 |
Fair value of vested stock-based awards assumed (2) |  | 4,613 |
Total |  | $ | 692,727 |
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(1) | Cash consideration paid includes 51,953,635 shares ultimately tendered at $13.00 per share, or an aggregate total of $675.4 million, plus $12.7 million of cash paid to settle certain outstanding stock-based awards which were not assumed by MaxLinear in the merger.
(2) | MaxLinear assumed certain of Exar's outstanding stock-based awards as part of the merger, and estimated the fair value of such assumed stock-based awards. The portion allocated to purchase price consideration represents the vested assumed stock-based awards. The fair value of the MaxLinear equivalent stock options included in stock-based awards assumed was estimated using the Black-Scholes valuation model utilizing certain assumptions. Such assumptions are based on MaxLinear’s best estimates, which impact the fair value of the options calculated under the Black-Scholes methodology and, ultimately, the total consideration recorded for the acquisition.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following is the allocation of purchase price as of the May 12, 2017 closing date under the acquisition method of accounting. The purchase price allocation is based upon an estimate of the fair value of the assets acquired and the liabilities assumed by MaxLinear in the acquisition (in thousands):
Description | Amount
Purchase price allocation: |
Cash | $ | 235,810 |
Accounts receivable | 11,363 |
Inventory | 48,536 |
Prepaid and other current assets | 2,288 |
Property and equipment | 3,442 |
Identifiable intangible assets | 249,500 |
Deferred tax assets | 7,955 |
Other assets | 5,434 |
Accounts payable | (12,385 | )
Accrued expenses and other current liabilities | (11,264 | )
Accrued compensation | (5,253 | )
Other long-term liabilities | (3,030 | )
Identifiable net assets acquired | 532,396 |
Goodwill | 160,331 |
Total purchase price | $ | 692,727 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | The following table presents details of the identified intangible assets acquired of Exar:
|  | Estimated Useful Life (in years) |  | Fair Value (in thousands)
Developed technology |  | 7.0 |  | $ | 120,900 |
Trademarks and tradenames |  | 6.0 |  | 12,100 |
Customer-related intangible |  | 5.0 |  | 96,300 |
Product backlog |  | 0.5 |  | 3,600 |
Finite-lived intangible assets |  | 6.0 |  | 232,900 |
In-process research and development |  | N/A |  | 16,600 |
Total intangible assets |  |  |  | $ | 249,500 |

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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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