Subsequent Event Subsequent Event (Notes) |
6 Months Ended |
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Jun. 30, 2016 | |
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12. Subsequent Events
Acquisition of Certain Assets and Assumption of Certain Liabilities of the Wireless Infrastructure Backhaul Business of Broadcom Corporation
On July 1, 2016, the Company completed its previously announced acquisition of certain assets and assumption of certain liabilities of the wireless infrastructure backhaul business of Broadcom Corporation (which recently merged with Avago Technologies Limited), or Broadcom, for aggregate cash consideration of $80.0 million. The assets acquired include, among other things, certain patents and other intellectual property, certain designs, a workforce-in-place, and other intangible assets, as well as tangible assets that include but are not limited to production masks and other production related assets, inventory, and other property and equipment. The liabilities assumed include, among other things, product warranty obligations and accrued severance obligations for employees of the wireless infrastructure access line business that were hired by the Company upon close of the acquisition. The assets and liabilities to be acquired, together with the rehired employees, represent a business as defined in ASC 805, Business Combinations.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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