Acquisitions

3 Months Ended

Jan. 30, 2015

Business Combinations [Abstract]

Acquisitions

Note 11 – Acquisitions

On January 31, 2015, the Company acquired the aerospace and defense display business of Belgium-based Barco N.V. (Barco) for €150 million, or approximately $170 million, in cash.  The Company incurred a $2.9 million foreign currency exchange loss in the funding of the acquisition in the first fiscal quarter of 2015.  The Company financed the acquisition primarily using international cash reserves, with the balance funded by borrowings under its existing credit facility.  The display business develops and manufactures visualization solutions for a variety of demanding defense and commercial aerospace applications.  The display business will be included in our Avionics & Controls segment.

On December 20, 2013, the Company acquired Sunbank for $51.7 million.  The purchase price included $5 million in additional contingent consideration based upon achievement of certain sales levels over a two-year period.  Sunbank is a manufacturer of electrical cable accessories, connectors and flexible conduit systems.  Sunbank is included in the Sensors & Systems segment.