Business Combination (Tables)

12 Months Ended

Dec. 28, 2019

The Acquisition was accounted for under the acquisition method of accounting in accordance with ASC Topic 805, “Business Combinations” and consisted of the following (in thousands, except shares):



Cash	$	154,192
Equity consideration⁽¹⁾	129,628
Total	$	283,820

⁽¹⁾

Based on the closing price of the Company's common stock of $6.18 on October 1, 2018, the $129.6 million equity consideration represents the fair value of 21 million shares of the Company's common stock issued to Coriant shareholders in accordance with the Purchase Agreement.

Schedule of Assets Acquired and Liabilities Assumed

The following table summarizes the Company’s allocation of the purchase consideration based on the fair value of assets acquired and liabilities assumed at the Acquisition Date (in thousands):



	Amounts Recognized as of Acquisition Date			Measurement Period Adjustments			Total
Cash and cash equivalents	$	15,549		$	—		$	15,549
Restricted cash	25,743			—			25,743
Accounts receivable	170,466			(2,153		)	168,313
Inventory	96,067			(10,433		)	85,634
Property, plant and equipment, net	217,991			—			217,991
Other assets	39,145			(5,083		)	34,062
Intangible assets, net	200,700			—			200,700
Goodwill	48,235			30,916			79,151
Financing lease obligation	(194,700		)	—			(194,700		)
Deferred revenue	(43,502		)	5,264			(38,238		)
Other liabilities	(291,874		)	(18,511		)	(310,385		)
Total net assets	$	283,820		$	—		$	283,820

Schedule of Intangible Assets Acquired

The following table presents details of the identifiable assets acquired at the Acquisition Date (in thousands):



	Fair Value		Estimated Useful Life (Years)
Customer relationships and backlog	$	111,400	8
Developed technology	70,550		5
In-process technology	17,750		n/a
Trade name	1,000		1
Total	$	200,700