Acquisitions (Tables)

12 Months Ended

Jul. 31, 2020

The following table summarizes the preliminary fair value of the assets acquired and liabilities assumed in connection with the CGC acquisition:


	Purchase Price Allocation ⁽¹⁾		Measurement Period Adjustments	Purchase Price Allocation (as adjusted)
Payable in cash	$	12,075,000	—	$	12,075,000
Payable in common stock issued by Comtech	11,575,000		—	11,575,000
Preliminary purchase price at fair value	$	23,650,000	—	$	23,650,000
Preliminary allocation of aggregate purchase price:
Cash and cash equivalents	$	160,000	—	$	160,000
Current assets	4,390,000		514,000	4,904,000
Property, plant and equipment	1,457,000		(760,000)	697,000
Operating lease assets	924,000		—	924,000
Deferred tax assets, non-current	1,075,000		(605,000)	470,000
Non-current assets	—		89,000	89,000
Contract liabilities	(6,890,000)		—	(6,890,000)
Accrued warranty obligations	(1,000,000)		—	(1,000,000)
Other current liabilities	(6,198,000)		3,094,000	(3,104,000)
Non-current liabilities	(1,329,000)		2,000	(1,327,000)
Net tangible liabilities at preliminary fair value	$	(7,411,000)	2,334,000	$	(5,077,000)
Identifiable intangibles, deferred taxes and goodwill:						Estimated Useful Lives
Technology	$	5,000,000	1,700,000	$	6,700,000	20 years
Customer relationships	6,500,000		1,600,000	8,100,000		17 years
Trade name	800,000		200,000	1,000,000		5 years
Deferred tax liabilities	(2,091,000)		(876,000)	(2,967,000)
Goodwill	20,852,000		(4,958,000)	15,894,000		Indefinite
Preliminary allocation of aggregate purchase price	$	23,650,000	—	$	23,650,000

⁽¹⁾ As reported in the Company's Quarterly Report on Form 10-Q for the nine months ended April 30, 2020.