Subsequent Events

12 Months Ended

Apr. 30, 2022

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On May 25, 2022, our Board of Directors declared a quarterly cash dividend of $0.11 per share of our Class A and Class B common stock. The cash dividend is payable on August 26, 2022 to Class A and Class B shareholders of record at the close of business on August 12, 2022.

Effective June 28, 2022, the Company acquired certain assets of privately held Starboard Solutions Corp. ("Starboard"), a Michigan based innovator of supply chain design software, pursuant to the terms of an asset purchase agreement, dated as of June 28, 2022 ("the Purchase Agreement").

Under the terms of the Purchase Agreement, the Company acquired the assets for cash consideration paid of approximately $6.5 million, net of a working capital adjustment, subject to certain post-closing adjustments and an additional potential earn-out consideration of $6.0 million over three years from the transaction effective date. Starboard’s supply chain network optimization solution creates an interactive supply chain digital model of the physical network, and uses gaming technology and market-based reference costs to simulate various planning scenarios.

The Company will include the forward results of Starboard in its consolidated financial statements commencing June 29, 2022. The acquired assets consist primarily of other intangibles assets and are net of certain client related liabilities. Acquisition related costs were not material for any period presented in the consolidated financial statements. Based on the timing of the acquisition being subsequent to the end of the Company's fourth quarter of fiscal 2022, the preliminary accounting for business combination is incomplete at the time of filing this report. As a result, the Company will include this information in its quarterly report on Form 10-Q for the first quarter of fiscal 2023.