|12 Months Ended|
Jun. 30, 2018
|Business Combinations [Abstract]|
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:
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.
The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).
Reference 1: http://www.xbrl.org/2003/role/presentationRef