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Business Acquisition (Tables)
 6 Months Ended
Feb. 24, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Purchase Price The provisional purchase price was as follows:
Cash$225,000 
Additional payment for net working capital adjustment (1)
17,246 
Fair value of Earnout20,800 
$263,046 
(1)Includes $14.4 million paid at closing and $2.8 million paid in the second quarter of 2023 upon completion of the review of the working capital assets acquired and liabilities assumed.
Summary of Assets Acquired and Liabilities Assumed at the Acquisition Date The purchase price has been allocated to the tangible and intangible assets acquired and liabilities assumed based on these valuation analyses and were as follows:
Cash and cash equivalents$29,174 
Accounts receivable26,685 
Inventories10,890 
Other current assets6,536 
Property and equipment7,292 
Operating lease right-of-use assets9,216 
Intangible assets123,700 
Goodwill125,929 
Other noncurrent assets11,661 
Accounts payable and accrued expenses(32,656)
Other current liabilities(36,723)
Noncurrent operating lease liabilities(7,067)
Other noncurrent liabilities(11,591)
Total net assets acquired$263,046 
Summary of Intangible Assets
The fair values and useful lives of identifiable intangible assets were as follows:
Amount
Estimated
useful life
(in years)
Technology$82,000 5
Customer relationships27,800 8
Trademarks/trade names10,000 9
In-process research and development3,900 N/A
$123,700 
Summary of Unaudited Pro Forma Information
The following unaudited pro forma financial information for the three and six months ended February 25, 2022 combines the historical results of operations of SGH for the three and six months ended February 25, 2022 and the historical results of operations of Stratus Technologies for the three and six months ended November 28, 2021:
Three Months EndedSix Months Ended
February 25,
2022		February 25,
2022
Net sales$489,336 $997,166 
Net income attributable to SGH1,299 6,479 
Earnings per share:
Basic$0.03 $0.13 
Diluted$0.02 $0.12