Subsequent Events

12 Months Ended

Jul. 31, 2016

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Merger Agreement

On September 7, 2016, the Company entered into a definitive agreement to be acquired by Google Inc. for $17.40 per share in cash for each share of the Company’s common stock, for a total value of approximately $625 million. Completion of the Merger is subject to the satisfaction of customary closing conditions, including approval of the Merger by the Company’s stockholders, the absence of certain legal impediments, the absence of a material adverse effect on our business and the approval of applicable regulatory authorities. The companies expect the transaction to close by the end of calendar 2016. For more information about the Merger, please see the preliminary proxy statement on Schedule 14A we filed with the Securities Exchange Commission on September 28, 2016 and any subsequently filed definitive proxy statement.

It is possible that some customers and other partners with whom we have a business relationship may decide to seek to terminate, change or renegotiate their relationship with us as a result of the transaction. As a result, certain balance sheet accounts, such as accounts receivable and deferred revenue may be impacted.