Agreement to Acquire S1nn GmbH & Co. KG

6 Months Ended

Dec. 31, 2014

Business Combinations [Abstract]

Agreement to Acquire S1nn GmbH & Co. KG

Note 24 – Agreement to Acquire S1nn GmbH & Co. KG

On December 18, 2014, we entered into an agreement to acquire all of the outstanding shares of s1nn GmbH & Co. KG (“S1nn” or the “S1nn Acquisition”), a developer of infotainment systems, connectivity and car audio solutions for a total purchase price of €42.0 million or approximately $50.0 million (the “S1nn Purchase Price”), which will be paid in cash. The S1nn Purchase Price is subject to a working capital adjustment among other adjustments as defined in the purchase agreement. The S1nn Acquisition is expected to close in fiscal year 2015, subject to customary closing conditions.