Acquisition

3 Months Ended

Mar. 31, 2013

Business Combinations [Abstract]

Acquisition

7) Acquisition

On March 12, 2013, the Company acquired Alter Power Systems S.r.l. (“Alter”), located in Reggio Emilia, Italy for a purchase price of approximately $2,454. Total cash paid was $1,963 in March 2013. The remaining $491 will be paid once holdback provisions are met. Alter develops advanced microwave power generators, components and systems for industrial microwave heating, microwave plasma coating and semiconductor applications. This acquisition, strengthens the Company’s existing microwave plasma expertise and product portfolio, and extends its opportunity into high growth, non-plasma microwave applications for industrial processes, food and beverage manufacturing and other markets.

The following table summarizes the estimated fair value of the assets acquired and liabilities assumed at the date of the acquisition:

Current assets	$	1,608
Property and equipment		211
Intangible assets		3,093
Total assets acquired		4,912
Debt (Note 11)		791
Deferred taxes and other liabilities		1,667
Total liabilities assumed		2,458
Total purchase price	$	2,454

The intangible assets associated with the acquisition are not deductible for tax purposes. The following table reflects the allocation of the acquired intangible assets and related estimates of useful lives. These acquired intangibles will be amortized on a straight-line basis.

Current developed technology	$	2,495	9 year useful life
Trade names		598	3 year useful life
	$	3,093

The results of this acquisition were included in the Company’s consolidated operations beginning on March 12, 2013. The pro forma consolidated statements reflecting the operating results of Alter, had they been acquired as of January 1, 2013, would not differ materially from the operating results of the Company as reported for the quarter ended March 31, 2013. Alter is included in the Power and Reactive Gas Products group and the Advanced Manufacturing Capital Equipment reportable segment.