Business Combination (Tables) - Aerohive Networks, Inc.

12 Months Ended

Jun. 30, 2021

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

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

	Final Allocation as of June 30, 2020
Cash and cash equivalents	$	44,158
Short-term investments		45,148
Accounts receivable, net		11,753
Inventories		19,232
Prepaid expenses and other current assets		3,924
Property and equipment		2,364
Operating lease right-of-use assets		6,336
Other assets		2,195
Debt		(20,000	)
Accounts payable		(9,737	)
Accrued compensation and benefits		(7,129	)
Accrued warranty		(570	)
Other accrued liabilities		(1,960	)
Operating lease liabilities		(4,752	)
Deferred revenue		(68,415	)
Other liabilities		(483	)
Net tangible assets		22,064

Identifiable intangible assets		52,500
Goodwill		192,582
Total intangible assets acquired		245,082

Total net assets acquired	$	267,146

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

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