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Acquisitions (Tables)
6 Months Ended
Jun. 30, 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 six months ended June 30, 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 six months ended June 30, 2016           $ 47  

  

   

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 six months ended June 30, 2016           $ 36