Business Acquisition and Disposition

9 Months Ended

Dec. 28, 2013

Business Combinations [Abstract]

BUSINESS ACQUISITION AND DISPOSITION

BUSINESS ACQUISITION AND DISPOSITION

Acquisition

During the third quarter of fiscal 2013, the Company completed its acquisition of Amalfi Semiconductor, Inc. ("Amalfi") to accelerate the market adoption of Amalfi's RF silicon complementary metal oxide semiconductor (RF CMOS) and mixed-signal integrated circuits (ICs). The Company acquired Amalfi for a total purchase price of approximately $48.4 million, net of cash received of $37.6 million (adjusted for preliminary working capital adjustments and holdback reserves). The measurement period related to the acquisition of Amalfi concluded during the third quarter of fiscal 2014.

As a result of the acquisition of Amalfi, the Company acquired in-process research and development (IPRD). The acquired IPRD enhanced and strengthened the Company's existing 2G product offerings and also enables the Company to offer future high performing, low-cost products compatible with 3G networks. As of December 28, 2013, the acquired IPRD was 70% complete with an estimated completion time of approximately six to nine months and a total remaining cost of approximately $2.0 million to $2.5 million.  

Disposition

During the second quarter of fiscal 2014, the Company sold its gallium arsenide semiconductor manufacturing facility located in the U.K. to Compound Photonics. As a result of this transaction, the Company wrote-off approximately $1.0 million of MPG-related goodwill.