Business Combination

9 Months Ended

Sep. 25, 2021

Business Combinations [Abstract]

Business Combination

NOTE 2. Business Combination

Inspectrology, LLC

On December 31, 2020, the Company acquired Inspectrology, LLC (“Inspectrology”), a leading supplier of overlay metrology for controlling lithography and etch processes in the compound semiconductor market for $27,015 in cash and a potential earnout of $10,000, subject to achievement of certain revenue targets earned for fiscal year 2021 and fiscal year 2022. As of September 25, 2021, the Company does not believe the earnout criteria will be met. Certain payments, including the earnout, are subject to the principals remaining with the Company for a period of one to three years.

The following table summarizes the preliminary fair values of assets acquired and liabilities assumed at the date of acquisition:

Cash and cash equivalents	$	220
Account receivables		4,071
Inventories		2,587
Prepaid expenses and other current assets		104
Property, plant and equipment		86
Identifiable intangible assets		12,210
Other assets		3,000
Total assets acquired		22,278
Accounts payable		(1,048	)
Payroll and related expenses		(512	)
Deferred revenue		(386	)
Other current liabilities		(576	)
Net assets acquired		19,756
Goodwill		7,259
Total purchase consideration	$	27,015