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Business Combination (Tables)

9 Months Ended

Sep. 30, 2020

Business Combinations [Abstract]

Schedule of consideration transferred

A summary of the net cash flows is summarized below (in thousands):

						January 17, 2020
Cash consideration paid to former equity holders						$	5,165
Less: cash and cash equivalents acquired						(11)
Acquisition of InstruNor, net of cash acquired						$	5,154

Schedule of consideration transferred and assets acquired and liabilities assumed

Goodwill of $2.2 million was calculated as the purchase price less the fair value of the net assets acquired as follows (in thousands):

						January 17, 2020
Purchase price:
Cash consideration paid on closing to former equity holders						$	5,165
Non-cash consideration common shares						2,049
Total purchase price						$	7,214
Assets acquired:
Cash and cash equivalents						$	11
Accounts receivable						32
Other receivables						13
Inventories, net						153
Developed technology						5,380
Liabilities assumed:
Accounts payable						14
Other current liabilities						15
Deferred tax liability, net						566
Fair value of identifiable net assets acquired						$	4,994
Goodwill acquired on acquisition						$	2,220

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- References

No definition available.

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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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=121647850&loc=d3e4845-128472

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