Annual report pursuant to Section 13 and 15(d)

Business Combinations

v3.10.0.1
Business Combinations
 12 Months Ended
Jun. 30, 2018
Business Combinations [Abstract]  
BUSINESS COMBINATIONS
NOTE 5 - BUSINESS COMBINATIONS

On June 9, 2017, the Company completed the acquisition of the outstanding shares of a privately-held company that designs and manufactures optical profilers and defect inspection systems for advanced semiconductor packaging, LED and data storage industries, for total purchase consideration of $36.8 million, inclusive of post-closing adjustments. The primary reason for the acquisition is to expand the Company’s portfolio of products.

The following table represents the purchase price allocation and summarizes the aggregate estimated fair value of the net assets acquired, including post-closing adjustments:
(In thousands)
Purchase Price Allocation
Intangible assets
$
17,660

Goodwill
14,379

Assets acquired (including cash and marketable securities of $3.2 million)
6,110

Liabilities assumed
(1,334
)
  Fair value of net assets acquired
$
36,815



Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired. The $14.4 million of goodwill was assigned to the Global Service and Support (“GSS”), and the Others reporting units. None of the goodwill recognized is deductible for income tax purposes.

On April 2, 2018, the Company acquired a product line from Keysight Technologies, Inc., a related party, for total purchase consideration of $12.1 million, including intangible assets of $5.0 million and goodwill of $5.2 million, which was assigned to GSS. None of the goodwill recognized is deductible for income tax purposes. See Note 18 “Related Party Transactions” for additional details.