Acquisitions (Tables)

6 Months Ended

Nov. 30, 2014

DHybrid Systems Llc

Schedule of Acquisition of Intangible Assets

In connection with the acquisition of the net assets of dHybrid, we identified and valued the following identifiable intangible assets:

(in thousands)			Useful Life
Category	Amount		(Years)
Technological know-how	$	3,100		10
Customer relationships		600		7
Backlog		88		Less than 1
Total acquired identifiable intangible assets	$	3,788

Schedule of Consideration Transferred and Fair Value Assigned to Assets Acquired And Liabilities Assumed

The following table summarizes the consideration transferred for our 79.59% interest in dHybrid and the fair value assigned to the assets acquired and liabilities assumed at the acquisition date:

(in thousands)
Consideration Transferred:
Cash consideration	$	11,939
Fair value of contingent consideration		3,979
Total consideration	$	15,918
Estimated Fair Value of Assets Acquired and Liabilities Assumed:
Cash and cash equivalents	$	795
Accounts receivable		1,459
Inventories		3,300
Prepaid expenses and other current assets		38
Intangible assets		3,788
Property, plant and equipment		396
Total identifiable assets		9,776
Accounts payable		(1,163	)
Accrued liabilities		(160	)
Long-term debt		(5,000	)
Net identifiable assets		3,453
Goodwill		16,547
Net assets		20,000
Noncontrolling interest		(4,082	)
Total consideration	$	15,918

MEF

Schedule of Acquisition of Intangible Assets

In connection with the acquisition of the net assets of MEF, we identified and valued the following identifiable intangible assets:

(in thousands)			Useful Life
Category	Amount		(Years)
Technological know-how	$	5,100		10
Customer relationships		4,300		7
Non-compete agreements		2,400		4
Backlog		1,800		Less than 1
Total acquired identifiable intangible assets	$	13,600

Schedule of Consideration Transferred and Fair Value Assigned to Assets Acquired And Liabilities Assumed

The following table summarizes the consideration transferred for the net assets of MEF and the fair value assigned to the assets acquired and liabilities assumed at the acquisition date:

(in thousands)
Accounts receivable	$	3,329
Inventories		3,550
Intangible assets		13,600
Property, plant and equipment		166
Total identifiable assets		20,645
Accounts payable		(555	)
Other accrued items		(92	)
Deferred revenue		(4,808	)
Net assets		15,190
Goodwill		23,202
Purchase price		38,392
Less: estimated excess working capital		3,160
Cash paid at closing	$	35,232

JRE

Schedule of Consideration Transferred and Fair Value Assigned to Assets Acquired And Liabilities Assumed

The following table summarizes the consideration transferred for the net assets of JRE and the fair value assigned to the assets acquired and liabilities assumed at the acquisition date:

(in thousands)
Cash	$	253
Accounts receivable		509
Inventories		2,793
Prepaid expense and other current assets		40
Property, plant and equipment		250
Total identifiable assets		3,845
Accounts payable		(514	)
Other accrued items		(2,160	)
Net identifiable assets		1,171
Goodwill		400
Total cash consideration	$	1,571