Restructuring

In the fourth quarter of fiscal year 2009, the Company committed to the implementation of a restructuring plan pursuant to which it closed its research and development facility in Pune, India and is winding down the affairs of its subsidiary, Versant India Private Limited (“Versant India”). The restructuring plan was undertaken to consolidate the Company’s research and development efforts into one location in Germany in order to streamline operations, create management efficiencies and increase productivity. Since the plan was undertaken, Versant has incurred restructuring costs of $203,000 as of July 31, 2011. The restructuring was substantially completed during the second quarter ended April 30, 2010.

The following table reflects the type and amount of these restructuring charges (accrual reversal) included in operating expenses for the three and nine months ended July 31, 2011 and 2010 (in thousands):

	Three Months Ended				Nine Months Ended
	July 31,		July 31,		July 31,		July 31,
	2011		2010		2011		2010
Restructuring:
Severance, retention and related charges	$	—	$	—	$	—	$	38
Impairment of fixed assets	20		—		20		2
Impairment to other assets	5		—		5		(29		)
Contract termination costs	—		—		—		8
Other direct costs of closure	—		—		—		20
	$	25	$	—	$	25	$	39