Sale of TPack A/S (Notes)

12 Months Ended

Mar. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Sale of TPack A/S

Sale of TPack A/S

On April 22, 2013, the Company completed the sale of its former subsidiary, TPack, and certain specified intellectual property assets owned by the Company related to TPack's business for an aggregate consideration of $33.5 million, net of working capital adjustments, payable in cash. In connection with the closing, there was a working capital adjustment of $0.5 million and the Company received a cash payment of $30.2 million. The remaining $3.4 million of the aggregate consideration was received in April 2014.

In connection with the divestiture, the Company recorded a gain of $19.7 million. The following table summarizes the components of the gain (in thousands):

Total proceeds, net of working capital adjustment	$	30,175
Net assets and liabilities	(184		)
Goodwill write off	(1,758		)
Intangibles write off	(11,404		)
Holdback amount	3,353
Legal fees and other costs	(483		)
Gain on sale of TPack	$	19,699

The total assets of TPack included $0.7 million of cash, cash equivalents and short-term investments.