Quarterly report pursuant to Section 13 or 15(d)

Business Combination

v3.8.0.1
Business Combination
 6 Months Ended
Dec. 31, 2017
Business Combinations [Abstract]  
BUSINESS COMBINATION
NOTE 5 - BUSINESS COMBINATION
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 inspection systems for advanced semiconductor packaging, LED and data storage industries, for total purchase consideration of $37.1 million, inclusive of post-closing working capital adjustments. The remaining acquisition holdback amount of $4.8 million was paid during the three months ended December 31, 2017. The primary reason for the acquisition is to expand the Company’s portfolio of products.

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

Goodwill
14,764

Assets acquired (including cash and marketable securities of $3.2 million)
5,981

Liabilities assumed
(1,334
)
  Fair value of net assets acquired
$
37,071



Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired. The $14.8 million of goodwill was assigned to the Global Service and Support (“GSS”), and the Other reporting units. None of the goodwill recognized is deductible for income tax purposes.