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Acquisitions (Tables)
3 Months Ended
Mar. 31, 2015
Business Acquisition [Line Items]  
Schedule of Business Acquisitions, by Acquisition [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Business Acquired

 

Closing

 

Net Assets Acquired
(in 000s)

 

Segment

 

Primary Form of Consideration

Titan Energy Worldwide, Inc.

 

12/02/14

 

$

1,958 

 

Critical Power

 

Cash/stock

Harmonics Holdings Inc.

 

01/16/15

 

 

1,182 

 

T&D Solutions

 

Seller note/debt forgiveness

 

 

 

 

$

3,140 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Titan Energy Worldwide Inc. [Member]  
Business Acquisition [Line Items]  
Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The following table summarizes the consideration paid for the Titan acquisition and presents the preliminary allocation of the amount to the net tangible and identifiable intangible assets based on their estimated fair values as of December 2, 2014 (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Titan Acquisition

Purchase Price

 

 

 

 

 

Cash consideration

 

 

 

$

953 

Common stock consideration

 

 

 

 

1,005 

 

 

 

 

$

1,958 

 

 

 

 

 

 

Purchase Price Allocation

 

 

 

 

 

Current assets, including cash and cash equivalents of $0.1 million

 

 

 

$

3,721 

Property, plant and equipment

 

 

 

 

410 

Identifiable intangible assets

 

 

 

 

5,147 

Goodwill

 

 

 

 

2,719 

Total assets acquired

 

 

 

 

11,997 

Current liabilities

 

 

 

 

(6,881)

Notes payable

 

 

 

 

(3,158)

Net assets acquired

 

 

 

$

1,958 

 

 

 

 

 

 

 

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The major classes of intangible assets arising from the acquisition of Titan, their respective amortization periods, and the amount of amortization expense recognized during the three months ended March 31, 2015 are as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average
Amortization Years

 

Titan Acquisition

Acquired Intangible Assets

 

 

 

 

Customer relationships

4

 

$

4,320 

Distributor territory license

4

 

 

474 

Internally developed software

7

 

 

289 

Trade names

1

 

 

64 

 

 

 

$

5,147 

 

 

 

 

 

Amortization expense recorded during the three months ended March 31, 2015

 

$

326 

 

 

 

 

 

 

Harmonics Holdings Inc. [Member]  
Business Acquisition [Line Items]  
Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The following table summarizes the consideration paid for the Harmonics acquisition and presents the preliminary allocation of the amount to the net tangible and identifiable intangible assets based on their estimated fair values as of January 16, 2015 (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Harmonics Acquisition

Purchase Price

 

 

 

 

 

Cash consideration

 

 

 

$

93 

Forgiveness of trade payables and indebtedness due to purchaser

 

 

 

 

609 

Deferred payments due to seller

 

 

 

 

500 

 

 

 

 

$

1,202 

 

 

 

 

 

 

Purchase Price Allocation

 

 

 

 

 

Current assets, including cash and cash equivalents of $0

 

 

 

$

21 

Property, plant and equipment

 

 

 

 

Goodwill

 

 

 

 

1,177 

Total assets acquired

 

 

 

 

1,202 

Current liabilities

 

 

 

 

 -

Net assets acquired

 

 

 

$

1,202