Acquisitions (Tables)

6 Months Ended

Jan. 31, 2021

The following table summarizes the 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
Paid in cash	$	12,075,000	—	$	12,075,000
Paid in common stock	11,575,000		—	11,575,000
Purchase price at fair value	$	23,650,000	—	$	23,650,000
Allocation of aggregate purchase price:
Cash and cash equivalents	$	160,000	—	$	160,000
Current assets	5,005,000		—	5,005,000
Property, plant and equipment	697,000		121,000	818,000
Operating lease assets	924,000		—	924,000
Deferred tax assets, non-current	470,000		47,000	517,000
Non-current assets	89,000		—	89,000
Contract liabilities	(6,890,000)		—	(6,890,000)
Accrued warranty obligations	(1,000,000)		(500,000)	(1,500,000)
Other current liabilities	(3,104,000)		—	(3,104,000)
Non-current liabilities	(1,327,000)		—	(1,327,000)
Net tangible liabilities at fair value	$	(4,976,000)	(332,000)	$	(5,308,000)
Identifiable intangibles, deferred taxes and goodwill:						Estimated Useful Lives
Technology	$	6,700,000	300,000	$	7,000,000	20 years
Customer relationships	8,100,000		(300,000)	7,800,000		19 years
Trade name	1,000,000		100,000	1,100,000		5 years
Other intangible liabilities	—		(2,500,000)	(2,500,000)		1.5 years
Deferred tax liabilities	(2,984,000)		426,000	(2,558,000)
Goodwill	15,810,000		2,306,000	18,116,000		Indefinite
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 three months ended October 31, 2020.