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Acquisitions (Tables)
3 Months Ended
Mar. 31, 2016
Business Combinations [Abstract]  
Schedule of Business Acquisitions, by Acquisition

A summary of the acquisitions is as follows:

  

Business Acquired  Closing  Net Assets Acquired
(in 000s)
  Segment  Primary Form of Consideration
Harmonics Holdings Inc.   01/16/15   $1,043    T&D Solutions   Seller note/debt forgiveness
Pacific Power Systems Integration, Inc.   08/01/15    2,013    T&D Solutions   Cash
        $3,056         

 

Schedule of consideration paid for acquisitions and allocation of the amount to the net tangible and identifiable intangible assets

The following table summarizes the consideration paid for the Harmonics and Pacific acquisitions and presents the allocation of the amount to the net tangible and identifiable intangible assets based on their estimated fair values as of January 16, 2015 and August 1, 2015, respectively (in thousands):

 

  Harmonics Acquisition  Pacific Acquisition
Purchase Price          
Cash consideration  $93   $2,013 
Forgiveness of trade payables and indebtedness due to purchaser   609     
Deferred payments due to seller   341     
   $1,043   $2,013 
Purchase Price Allocation          
Current assets  $21   $18 
Property, plant and equipment   4    147 
Intangible assets   995    1,500 
Goodwill   23    348 
Net assets acquired  $1,043   $2,013 

 

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

The following table summarizes the major classes of intangible assets arising from the acquisition of Harmonics and Pacific, their respective amortization periods, and the amount of amortization expense recognized during the three months ended March 31, 2016 (in thousands):

 

    Weighted Average
Amortization Years
  Harmonics Acquisition
Acquired Intangible Assets        
Customer relationships     10     $ 319  
Non-compete agreements     5       75  
Developed technology     10       492  
Trademark     Indefinite       26  
Technology-related industry accreditations     Indefinite       83  
            $ 995  
Amortization expense recorded during the three months ended March 31, 2016           $ 23  

 

   Weighted Average
Amortization Years
  Pacific Acquisition
Acquired Intangible Assets          
Customer relationships   7   $400 
Non-compete agreements   7    100 
Technology-related industry accreditations   Indefinite    1,000 
        $1,500 
Amortization expense recorded during the three months ended March 31, 2016      $18