BUSINESS AND ASSETS ACQUISITIONS & DIVESTITIURES

3 Months Ended

Jul. 01, 2016

Business Combinations [Abstract]

BUSINESS AND ASSETS ACQUISITIONS & DIVESTITURES

BUSINESS AND ASSETS ACQUISITIONS & DIVESTITURES

On May 16, 2016, the Company acquired 100% of the outstanding share capital of a software architecture and data science solutions company, which strengthens the Company's capabilities in the energy market within the IEI segment. The Company paid $8.9 million, net of $0.2 million of cash acquired. The property and equipment acquired and liabilities assumed were not material to the Company's consolidated financial results. The Company also recorded $9.5 million of goodwill and intangibles of $1.7 million, and assumed the equity incentive plan of the acquiree. Results of operations were included in the Company’s condensed consolidated financial results beginning on the date of acquisition, and was not material to the Company’s consolidated financial results for the three-month period endedJuly 1, 2016.

During the three-month period endedJuly 1, 2016, the Company disposed of a non-strategic business within the HRS segment. The Company received $12.5 million of proceeds, net of an immaterial amount of cash held in the divested business. The property and equipment sold and liabilities transferred were not material to the Company's consolidated financial results. The loss on disposition was not material to the Company’s consolidated financial results, and is included in other charges, net in the condensed consolidated statements of operations for the three-month period endedJuly 1, 2016.

Pro-forma results of operations for the acquisition have not been presented, because the effects were immaterial to the Company’s financial results for all periods presented.

The Company is in the process of evaluating the fair value of the assets and liabilities related to business combinations completed during the recent periods. Additional information, which existed as of the acquisition date, may become known to the Company during the remainder of the measurement period, a period not to exceed 12 months from the date of acquisition. Changes to amounts recorded as assets and liabilities may result in a corresponding adjustment to goodwill during the respective measurement periods.