Acquisitions

9 Months Ended

Sep. 29, 2018

Acquisitions

2018 Acquisitions

On January 8, 2018, the company acquired eInfochips for a purchase price of $327,628, which included $14,769 of cash acquired. eInfochips services customers at every phase of technology deployment, including custom hardware and software, and new Internet of Things based business models. eInfochips is recorded in the company's global components business segment.

Since the date of the acquisition, eInfochips sales of $64,871 were included in the company's consolidated results of operations.

The purchase price allocation is preliminary and subject to adjustment based on our final assessment of fair value of the acquired assets and liabilities. Items initially estimated and subject to change upon finalization of the valuation include goodwill, intangibles, and deferred taxes. The following table summarizes the preliminary allocation of the net consideration paid to the fair value of the assets acquired and liabilities assumed for the eInfochips acquisition:



Accounts receivable, net	$	13,701
Inventories	1,512
Property, plant, and equipment	4,557
Other assets	23,733
Identifiable intangible assets	71,710
Goodwill	230,237
Accounts payable	(521		)
Accrued expenses	(8,595		)
Deferred tax liability	(21,969		)
Other liabilities	(1,506		)
Cash consideration paid, net of cash acquired	$	312,859

In connection with the eInfochips acquisition, the company allocated $71,710 to customer relationships with a weighted-average life of 9 years.

The goodwill related to the eInfochips acquisition was recorded in the company's global components business segment and is not tax deductible.

During the first nine months of 2018, the company completed one additional acquisition with a purchase price of approximately $18,704, net of cash acquired. The impact of this acquisition was not material to the company's consolidated financial position or results of operations.

The following table summarizes the company's unaudited consolidated results of operations for the third quarter and first nine months of 2017, as well as the unaudited pro forma consolidated results of operations of the company, as though the 2018 acquisitions occurred on January 1, 2017:



	Quarter Ended				Nine Months Ended
	September 30, 2017				September 30, 2017
	As Reported		Pro Forma		As Reported		Pro Forma
Sales	$	6,856,108	$	6,891,648	$	19,015,114	$	19,125,866
Net income attributable to shareholders	134,064		134,819		348,523		350,450
Net income per share:
Basic	$	1.52	$	1.52	$	3.92	$	3.94
Diluted	$	1.50	$	1.51	$	3.88	$	3.90

2017 Acquisitions

During 2017, the company acquired an additional 11.9% of the noncontrolling interest common shares of Data Modul AG for $23,350, increasing the company's ownership interest in Data Modul to 69.2%. The impact of this acquisition was not material to the company's consolidated financial position or results of operations. In addition, the company completed two acquisitions for $3,628, net of cash acquired. The impact of these acquisitions was not material to the company's consolidated financial position or results of operations. The pro forma impact of the 2017 acquisitions on the consolidated results of operations of the company for 2017, as though the acquisitions occurred on January 1, 2017, was also not material.