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Business Combinations
3 Months Ended
Sep. 30, 2011
Business Combinations 
Business Combination

On September 2, 2011, the Company acquired the digital signage business of Oregon based MagicBox, Inc. through an asset purchase agreement and recorded an allocation of the associated purchase price. As a result of this acquisition and the combination of StreamNet and Magicbox technologies, we believe we are the only company to offer a complete end-to-end digital signage content management, IP streaming, and control solution. The acquisition presents us with new global market opportunities and accelerated product development to grow.

 

The measurement period for purchase price allocation ends as soon as information on the facts and circumstances becomes available, but will not exceed twelve months from the date of acquisition. Adjustments in the purchase price allocation may require a recasting of the amounts allocated to intangible assets and possible allocation to goodwill, retroactive to the period in which the acquisition occurred.

 

The purchase price was allocated as follows:

 

Accounts receivable

   $              81 

Inventories

                 117 

Other current assets

                   12 

Accrued liabilities

                    (4)

Property and equipment

                     9 

Intangibles

                 765 

   $            980