BUSINESS COMBINATION (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Business Combination Consideration Transferred

The following summarizes consideration paid for EZchip at the acquisition date:



	(in thousands)
Consideration:
Cash payment for all outstanding common shares of EZchip at $25.50 per share	$	781,237
Fair value of awards attributable to pre-acquisition services	972
Total consideration:	782,209
Less: cash acquired	87,545
Fair value of total consideration transferred, net of cash acquired	$	694,664

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following summarizes the Company's allocation of the total purchase price, net of cash acquired for the EZchip acquisition after consultation with third party valuation specialists:



	(in thousands)
Short-term investments	$	108,862
Other current assets	34,114
Other long-term assets	9,638
Intangible assets	288,246
Goodwill	270,485
Total assets	711,345

Current liabilities	(10,253		)
Long-term liabilities	(6,428		)
Total liabilities	(16,681		)
Total purchase price allocation	$	694,664

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

Identifiable finite-lived intangible assets



	Fair value		Weighted Average Useful Life
	(in thousands)		(in years)
Purchased intangible assets:
Trade names	$	5,600	3
Customer relationships	56,400		9
Backlog	11,300		1
Developed technology	181,246		4 - 6
In-process research and development ⁽¹⁾	33,700		-
Total purchased intangible assets	$	288,246

⁽¹⁾IPR&D will not be amortized until the underlying products reach technological feasibility. Upon completion, each IPR&D project will be amortized over its useful life.

Business Acquisition, Pro Forma Information

Pro forma results are not indicative of what would have occurred had the acquisition occurred as of January 1, 2015 or of results that may occur in the future.



	Year Ended December 31,
	2016		2015
	(in thousands, except per share amounts)
Revenues	$	867,422	$	769,290
Net income	$	40,288	$	36,130
Net income per share — basic	$	0.82	$	0.77
Net income per share — diluted	$	0.80	$	0.74