Acquisition (Tables)

3 Months Ended

Apr. 04, 2020

Business Combinations [Abstract]

Schedule of Fair Value of Assets and Liabilities Assumed

The estimated fair value of assets acquired, and liabilities assumed as of the closing date, are as follows:

	Preliminary Allocation
Accounts receivable	$	10,294
Inventories		3,757
Contract assets, net		4,413
Prepaid expenses and other assets		1,756
Property and equipment		7,423
Operating lease right-of-use asset		10,578
Intangible assets		28,670
Goodwill		46,200
Accounts payable		(6,621	)
Accrued and other liabilities		(5,524	)
Operating lease liability		(10,578	)
Purchase price	$	90,368
Consideration:
Cash	$	90,145
Due to Sellers		223
Total fair value of consideration	$	90,368

Schedule for Valuation of Identifiable Intangible Assets Acquired and Estimate of Useful Lives

The valuation of the identifiable intangible assets acquired in the NewSouth Acquisition and our estimate of their respective useful lives are as follows:

	Valuation		Useful Life
	Amount		(in years)
(in thousands)
Trade name	$	23,500	15
Non-compete agreements		1,670	5
Developed technology		2,600	6
Customer-related intangible		900	<1
Other intangible assets, net	$	28,670