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Veloce
3 Months Ended
Jun. 30, 2015
Variable Interest Entity, Measure of Activity [Abstract]  
VELOCE
VELOCE
In June 2012, the Company completed its acquisition of Veloce Technologies, Inc. ("Veloce") which had been developing specific ARM-based technology for the Company. The total purchase consideration for Veloce was $178.5 million, the payment of which has been subject to the completion of certain development milestones and vesting requirements. For accounting purposes, the costs incurred in connection with the development milestones relating to Veloce are considered compensatory and are recognized as R&D expense in the Condensed Consolidated Statements of Operations. Veloce completed the milestones as of March 31, 2014 and the total consideration of $178.5 million has been recognized as R&D expense as of March 31, 2015. R&D expenses recognized related to Veloce were zero and $7.1 million during the three months ended June 30, 2015 and 2014, respectively.
During the three months ended June 30, 2015 and 2014, as part of the above arrangement, the Company paid $0.1 million and $6.4 million, respectively, in cash and issued 163,000 shares and 38,000 shares, respectively, valued at $0.9 million and $0.3 million, respectively. As of June 30, 2015$169.9 million of the total Veloce consideration has been paid and the Company expects that an additional $2.0 million will be paid in cash and stock by September 30, 2015. The $169.9 million paid to date includes $89.4 million in cash and the issuance of 10.9 million shares of common stock valued at $80.5 million. The consideration not yet paid of $8.6 million as of June 30, 2015 can be settled in cash or common stock (or a combination of cash and stock) at the Company's election and is classified as long-term if payments of the consideration are expected to occur beyond a 12 month period.