Acquisition of STI (Tables)

3 Months Ended

Mar. 31, 2022

The purchase price consideration to acquire STI consisted of the following:


Cash consideration for STI	$	409,647
Cash consideration for transaction expenses of STI	896
Total cash consideration	410,543
Non-cash equity consideration	200,224
Total consideration transferred	610,767
Total purchase price consideration	$	610,767

The following table summarizes the preliminary estimates of fair values of the assets acquired and liabilities assumed as of the Acquisition Date:


Preliminary fair value of net assets acquired and liabilities assumed:	Acquisition Date
Cash and cash equivalents	$	36,725
Accounts receivable	110,789
Inventories	47,517
Prepaid expenses and other	23,399
Property, plant and equipment	4,434
Other intangible assets	318,365
Other assets	325
Total assets acquired	$	541,554

Accounts payable	65,761
Deferred revenue	20,345
Short-term debt	44,338
Other liabilities	10,115
Income tax payable	7,576
Deferred tax liability	93,823
Other long-term liabilities	4,524
Long-term debt	12,053
Total liabilities assumed	$	258,535

Preliminary fair value of net assets acquired	283,019
Preliminary allocation to goodwill	$	327,768

The preliminary purchase price allocation includes $318.4 million of acquired identifiable intangible assets.


	Estimated Fair Value (in USD)		Estimated Weighted Average Useful Life in Years
(in thousands, except useful lives)
Backlog	$	51,165	1
Customer relationships	238,770		10
Trade name	28,430		20
Total	$	318,365

These results are prepared in accordance with U.S. GAAP.