Acquisitions of and Investments in Businesses and Technologies

3 Months Ended

Apr. 30, 2014

Business Combinations [Abstract]

Acquisitions of and Investments in Businesses and Technologies

ACQUISITIONS OF AND INVESTMENTS IN BUSINESSES AND TECHNOLOGIES

Subsequent to the close of the fiscal 2015 first quarter, Raven acquired SBG Innovatie BV and its affiliate, Navtronics BVBA (collectively, SBG). In a transaction that closed on May 1, 2014, Raven paid $5,000 with the potential for up to $2,500 in additional earn-out payments over the next 10 years. SBG currently has operations in the Netherlands just outside of Amsterdam and at Navtronics in Geel, Belgium. The acquisition broadens Applied Technology Division's guided steering system product line by adding high-accuracy implement steering applications. Additionally, SBG's headquarters will become the new home office for Raven in Europe, expanding the Company's global presence and reach into key European markets.

The initial accounting and fair value assessment of this acquisition was not complete as of the date of filing of this Quarterly Report on Form 10-Q. This acquisition is not expected to have a material impact on Raven's fiscal 2015 results.