Acquisitions

During March 2018, the Company acquired certain assets and assumed certain liabilities of a provider of telecommunications construction and maintenance services in the Midwest and Northeast United States for a cash purchase price of $20.9 million, less an adjustment for working capital received below a target amount of approximately $0.5 million expected to be received during fiscal 2020. This acquisition expands the Company’s geographic presence within its existing customer base.

The purchase price allocation of the business acquired in fiscal 2019 was completed within the 12-month measurement period from the date of acquisition. Adjustments to provisional amounts were recognized in the reporting period in which the adjustments were determined and were not material.

The following table summarizes the aggregate consideration paid for the fiscal 2019 acquisition (dollars in millions):



	2019
Assets
Accounts receivable	$	5.6
Inventories and other current assets	0.2
Property and equipment	0.5
Goodwill	4.0
Intangible assets - customer relationships	12.3
Total assets	22.6

Liabilities
Accounts payable	2.2
Total liabilities	2.2

Net Assets Acquired	$	20.4

Results of the business acquired in fiscal 2019 are included in the condensed consolidated financial statements from the date of acquisition. Contract revenues and net income of this acquisition were not material during the three months ended April 27, 2019 or April 28, 2018.