Business Acquisitions

9 Months Ended

May. 31, 2015

Business Acquisitions [Abstract]

Business Acquisitions [Text Block]

15. Business Acquisitions

During the nine months ended May 31, 2015, the Company completed four acquisitions which were not deemed to be significant individually or in the aggregate. The acquired businesses expanded the Company’s capabilities in consumer lifestyles, networking and telecommunications. The aggregate purchase price of these acquisitions totaled approximately $88.1 million in cash, which remains subject to adjustment based on a review of the actual net assets and expenses of the acquisitions as of the closing dates.

The acquisitions have been accounted for as business combinations using the acquisition method of accounting. Assets acquired of $130.6 million, including $28.7 million in goodwill and $23.4 million in intangible assets, and liabilities assumed of $42.5 million were recorded at their estimated fair values as of the acquisition dates.The Company is currently evaluating the fair values of the assets and liabilities related to the business combinations completed during the nine months ended May 31, 2015. The preliminary estimates and measurements are, therefore, subject to change during the measurement period. The excess of the purchase prices over the fair values of the acquired assets and assumed liabilities of $28.7 million was recorded to goodwill. None of the goodwill is currently expected to be deductible for income tax purposes.The Company expensed transaction costs in connection with the acquisitions of approximately $3.6 million during the nine months ended May 31, 2015.The results of operations were included in the Company’s condensed consolidated financial results beginning on the date of the acquisitions. Pro forma information has not been provided as the acquisitions are not deemed to be significant individually or in the aggregate.