ACQUISITIONS

12 Months Ended

May 31, 2014

ACQUISITIONS

5. ACQUISITIONS

On July 5, 2013, we acquired the assets of WVS for approximately $1.0 million. WVS, located in Meerbusch, Germany, develops and sells RF and microwave products, power grid tubes, vacuum capacitors, as well as industrial microwave equipment. This acquisition provides us with engineering and sales expertise to help expand our presence in the vacuum capacitor market.

The allocation of the final purchase price recorded during the first quarter of fiscal 2014, included $0.7 million of inventory and $0.3 million of fixed assets. Pro forma financial information is not presented due to immateriality.

On September 4, 2012, we acquired the assets of D and C for approximately $2.6 million. D and C, a Florida-based distributor of power grid tubes and associated RF components, services the broadcast, commercial, industrial, medical, military, and scientific markets. This acquisition provides us with access to additional product lines, vendors, and customers.

The allocation of the final purchase price was recorded during the fourth quarter of fiscal 2013 and included $0.2 million of trade receivables, $1.5 million of inventory, $0.7 million of intangibles, and $0.2 million of goodwill. Pro forma financial information is not presented due to immateriality.