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Subsequent Events
12 Months Ended
Apr. 30, 2014
Subsequent Events

21. Subsequent Events

On June 4, 2014, the Company entered into a definitive agreement to divest all of the net assets of PowerReviews to Wavetable, the parent company of Viewpoints, LLC, for $30.0 million in cash. Of the $30.0 million purchase price, $4.5 million will be placed into escrow as partial security for the Company’s indemnification obligations. The transaction is subject to conditions to closing specified in the definitive agreement. The transaction is expected to close within the first quarter of the Company’s 2015 fiscal year ending July 31, 2014. On June 26, 2014, the DOJ approved the terms of the transaction.