Mergers and Acquisitions

3 Months Ended

Sep. 27, 2014

Mergers and Acquisitions

Mergers and Acquisitions

Note 5. Mergers and Acquisitions

Holdback Payments Related to Fiscal 2014Acquisitions

On January 6, 2014 ("Network Instruments Closing Date"), the Company completed the acquisition of Network Instruments, LLC (“Network Instruments”) a privately-held U.S. companyfor $208.5 million in cash, subject to final cash and working capital adjustments including holdback payments of approximately $20.0 million which are reserved for potential breaches of representations and warranties.During the first quarter of fiscal 2015 the Company released a $9.8 million holdback payment following the six-month anniversary of the Network Instruments Closing Date. The payment is classified as a financing activity within the Consolidated Statements of Cash Flows. The final holdback payment of $10.0 million is to be paid following the one-year anniversary of the Network Instruments Closing Date.