Acquisitions of and Investments in Businesses and Technologies

9 Months Ended

Oct. 31, 2012

Business Combinations [Abstract]

Acquisitions and Investments in Businesses and Technologies

ACQUISITIONS OF AND INVESTMENTS IN BUSINESSES AND TECHNOLOGIES

Pursuant to the Company's 2009 purchase of substantially all of the assets of Ranchview Inc. (Ranchview), a privately held Canadian corporation, Raven agreed to pay contingent consideration for future sales of Ranchview products up to a maximum of $4,000. During the first quarter of fiscal 2013, the Company paid $1,841 in cash to the previous Ranchview owner for an early buyout of the outstanding acquisition-related contingent liability. This resulted in a gain of $508 which is included in Applied Technology operating income.

In connection with the January 2012 stock purchase agreement of Vista, Raven agreed to pay additional contingent consideration of $3,250 upon receipt of a specific quantity of smart sensing radar system delivery orders by January 13, 2013 and another $3,250 upon the delivery of a specific quantity by January 13, 2014. The first milestone was met and Raven paid $3,250 of the accrued liability for contingent consideration in November 2012.