10.

Acquisitions:

October 2, 2017,

AVX acquired the AB Electronics sensing and control business from TT Electronics, PLC, for

$162,038,

net of cash acquired. Now named Sensing and Control (“S&C”) and consolidated within our Interconnect, Sensing and Control Devices segment (formerly AVX Interconnect) for financial reporting purposes, the acquisition enhances AVX’s position in the automotive business and provides further opportunities for expansion and growth. Goodwill associated with the acquisition has been allocated to the Interconnect, Sensing and Control Devices reporting unit.

We have used the acquisition method of accounting to record the transaction in accordance with FASB Accounting Standards Codification Topic

805,

“Business Combinations.” In accordance with the acquisition method, the purchase price is allocated to the assets acquired and liabilities assumed based on their estimated fair values with the excess being allocated to goodwill. Factors that contributed to the recognition of goodwill include expected synergies and the trained workforce. The goodwill is

not

deductible for tax purposes.

As of

March 31, 2018,

the allocation of the purchase price was prepared based on estimates of fair values, as shown in the table below. The results of operations for S&C since the acquisition date are included in the accompanying consolidated statement of operations.

Assets Acquired and Liabilities Assumed	Allocation of Purchase Price
Accounts receivable	$	61,483
Inventory		42,443
Accounts payable and accrued liabilities		(67,343	)
Other current assets and liabilities, net		9,250
Working capital		45,833
Property and equipment		85,794
Intangible assets		18,168
Other non-current assets and liabilities, net		(13,806	)
Total identified assets and liabilities		135,989
Purchase price		162,038
Goodwill	$	26,049

We recorded approximately

$18,168

of identifiable intangible assets and

$26,049

of Goodwill as indicated above. The acquired intangible assets relate to the S&C trade name, existing technology and customer relationships which are being amortized over one, eleven, and

six

years respectively. In the quarter ended

March 31, 2018

goodwill increased by

$9,691.

The unaudited pro forma combined financial information is provided for the

twelve

month periods ended

2018

as though S&C had been acquired as of

April 1, 2016.

These unaudited pro forma combined results of revenues have been prepared by adjusting our historical results to include the historical results of S&C based on information available. Unaudited pro forma net sales for the

twelve

month periods ended

March 31, 2017

and

2018

would be

$1,633,626

and

$1,736,425,

respectively. We recognized revenue of

$193,326

from S&C in fiscal

2018.

January 31, 2018,

AVX acquired Ethertronics, Inc. for

$128,242

net of cash and debt acquired. Now named AVX Antenna and consolidated with our Electronic Components segment. The purchase of Ethertronics expands AVX’s extensive electronic product offering into the antenna technology market and will provide new and exciting growth opportunities for AVX going forward.

The Company has used the acquisition method of accounting to record the transaction in accordance with FASB Accounting Standards Codification Topic

805,

not

deductible for tax purposes.

As of

March 31, 2018,

the allocation of the purchase price was prepared based on estimates of fair values, as shown in the table below. The results of operations for AVX Antenna since the acquisition date are included in the accompanying consolidated statement of operations.

Assets Acquired and Liabilities Assumed	Allocation of Purchase Price
Accounts receivable	$	16,350
Accounts payable		(10,141	)
Other current assets and liabilities, net		2,868
Working capital		9,077
Debt		(21,105	)
Property and equipment		13,760
Intangible assets		64,800
Other non-current assets and liabilities, net		(13,763	)
Total identified assets and liabilities		52,769
Purchase price		128,242
Goodwill	$	75,473

We recorded approximately

$64,800

of identifiable intangible assets and

$75,473

of Goodwill as indicated above. The acquired intangible assets relate to the AVX Antenna trade name, existing technology and customer relationships which are being amortized over ten, ten, and

thirteen

years, respectively. We recognized revenue of

$12,740

from AVX Antenna in fiscal

2018.

Our estimates of fair value and resulting purchase price allocations related to our fiscal

2018

acquisitions are preliminary. We are in the process of finalizing the valuations. The final allocation of the purchase price

may

differ from the information presented in these Consolidated Financial Statements.