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Business Acquisition | 12 Months Ended
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Sep. 30, 2020
Business Combinations [Abstract] |
Business Acquisition | 3. Business Acquisition On November 13, 2018, the Company acquired all of the intellectual property and related assets of the OptoSeis® fiber optic sensing technology business from PGS Americas, Inc. The assets of the OptoSeis® business are included in the Company’s Oil and Gas Markets business segment. The acquisition represented the Company’s strategy for the addition of breadth to its PRM and other products. The acquisition purchase price consisted of cash at closing of approximately $1.8 million and contingent earn-out payments of up to $23.2 million over a five-and-a half year period beginning on the date of acquisition. The contingent cash payments will be derived from certain eligible product and service revenue generated during the earn-out period. In connection with the OptoSeis® acquisition, the Company recorded goodwill of $0.7 million (deductible for tax purposes), other intangible assets of $3.7 million, fixed assets of $1.7 million and established an initial contingent earn-out liability of $4.3 million. Legal costs of $0.2 million related to the OptoSeis® acquisition are included in selling, general and administrative expenses for the fiscal year ended September 30, 2019. For the fiscal year ended September 30, 2019, the estimated fair value of the acquired OptoSeis® assets was revised, including a $1.8 million addition to machinery and equipment, which was offset by a $1.0 million decrease in goodwill and a $0.8 million decrease in other intangible assets.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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- References No definition available. + Details
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