Business Combinations (Tables)

12 Months Ended

Jun. 30, 2020

Components of Aggregate Purchase Consideration

The components of aggregate purchase consideration are as follows (in thousands):

Purchase consideration	August 9, 2019
Cash paid to acquire outstanding shares	$	263,616
Replacement of stock-based awards		3,530
Aggregate purchase consideration	$	267,146

Summary of Allocation of Tangible and Identifiable Intangible Assets Acquired and Liabilities Assumed

The purchase price allocation is set forth in the table below and reflects estimated fair values (in thousands).

	Preliminary Allocation as of August 9, 2019				Adjustments			Final Allocation as of June 30, 2020
Cash and cash equivalents	$	44,158			$	—		$	44,158
Short-term investments		45,148				—			45,148
Accounts receivable, net		11,753				—			11,753
Inventories		16,698		a		2,534			19,232
Prepaid expenses and other current assets		3,980		b		(56	)		3,924
Property and equipment		2,185		c		179			2,364
Operating lease right-of-use assets		6,336				—			6,336
Other assets		2,195				—			2,195
Debt		(20,000	)			—			(20,000	)
Accounts payable		(9,737	)			—			(9,737	)
Accrued compensation and benefits		(7,129	)			—			(7,129	)
Accrued warranty		(570	)			—			(570	)
Other accrued liabilities		(1,960	)			—			(1,960	)
Operating lease liabilities		(4,752	)			—			(4,752	)
Deferred revenue		(68,415	)			—			(68,415	)
Other liabilities		(408	)	e		(75	)		(483	)
Net tangible assets		19,482				2,582			22,064

Identifiable intangible assets		53,400		d		(900	)		52,500
Goodwill		194,264		a,b,c,d, e		(1,682	)		192,582
Total intangible assets acquired		247,664				(2,582	)		245,082

Total net assets acquired	$	267,146			$	—		$	267,146

Schedule of Identifiable Intangible Assets Acquired as Part of Acquisition

The following table presents details of the identifiable intangible assets acquired as part of the Acquisition (dollars in thousands):

Intangible Assets	Estimated Useful Life (in years)		Amount
Developed technology		4	$	39,100
Backlog		1		400
Customer relationships		7		11,400
Trade names		1		1,600
Total identifiable intangible assets			$	52,500

Summary of Unaudited Pro Forma Financial Information

The following table summarizes the unaudited pro forma financial information (in thousands, except per share amounts):

	Year Ended
	June 30, 2020			June 30, 2019
Net revenues	$	962,399		$	1,139,321
Net loss	$	(85,392	)	$	(120,146	)
Net loss per share - basic and diluted	$	(0.71	)	$	(1.02	)
Shares used in per share calculation - basic and diluted		119,814			117,954

Data Center Business

Summary of Allocation of Tangible and Identifiable Intangible Assets Acquired and Liabilities Assumed

The following table below summarizes the final allocation of the tangible and identifiable intangible assets acquired and liabilities assumed (in thousands):

		Final Allocation
Accounts receivables		$	33,488
Inventories			19,934
Prepaid expenses and other current assets			988
Property and equipment	(a)		19,442
Other assets			4,734
Accounts payable and accrued expenses			(16,494	)
Deferred revenue			(33,025	)
Net tangible assets acquired			29,067
Identifiable intangible assets			32,800
Goodwill	(a)		22,470
Total intangible assets acquired			55,270
Total net assets acquired		$	84,337

(a)

Includes an adjustment after the measurement period to record $0.5 million of additional property and equipment acquired at an international location.

Campus Fabric Business

Summary of Allocation of Tangible and Identifiable Intangible Assets Acquired and Liabilities Assumed

The following table below summarizes the final allocation of the tangible and identifiable intangible assets acquired and liabilities assumed (in thousands):

	Final Allocation
Accounts receivables	$	19,527
Inventories		14,165
Prepaid expenses and other current assets		240
Property and equipment		5,406
Other assets		7,009
Accounts payable and accrued expenses		(31,670	)
Deferred revenue		(8,994	)
Other long-term liabilities		(5,849	)
Net tangible assets acquired		(166	)
Identifiable intangible assets		41,300
In-process research and development		2,400
Goodwill		35,892
Total intangible assets acquired		79,592
Total net assets acquired	$	79,426