BUSINESS COMBINATIONS

12 Months Ended

Dec. 31, 2015

Business Combinations [Abstract]

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS

Newport Media, Inc.

On July 31, 2014, the Company acquired a 100% equity interest in privately-held Newport Media, Inc. (“NMI”). The purchase consideration, net of cash acquired, consisted of $139.6 million payable in cash at closing of the acquisition, subject to working capital adjustments and deductions for specified closing expenses. In addition, the acquisition agreement provides for an aggregate cash earn-out payment of up to $30.0 million payable if specified revenue targets are achieved over the next two years. The Company recorded a liability of $0.4 million as of December 31, 2014, representing the estimated fair value of the earn-out based on the probability of achievement as of the acquisition date. The table below represents the allocation of the purchase price to the net assets acquired based on their estimated fair values as of July 31, 2014. The purchase price allocation was finalized as of July 31, 2015.    

	July 31, 2014
	(in thousands)
Current assets	$	12,287
Fixed assets	983
Intangible assets acquired:
Distributor and end-customer relationships	3,910
Backlog	1,670
Non-compete agreements	1,000
Trade name	300
Developed technology	10,910
In-process technology	13,690
Goodwill	86,123
Deferred tax assets	17,863
Other long-term assets	945
Current liabilities	(5,216		)
Other liabilities assumed	(1,406		)
	$	143,059

The Company incurred $5.3 million of one-time bonuses, subject to claw-back and other employment-related terms, for certain employees, which will be recorded ratably through the date on which the bonus is no longer recoverable by the Company. For the years ended December 31, 2015 and 2014, the Company recorded $3.1 million and $1.8 million, respectively, of one-time bonus expense as acquisition-related charges in the Consolidated Statements of Operations. For the years ended December 31, 2015 and 2014, the Company recorded $4.9 million and $3.8 million, respectively, of amortization expense related to identifiable intangible assets in the Consolidated Statements of Operations.