XML 61 R24.htm IDEA: XBRL DOCUMENT v2.4.1.9
Related Parties
3 Months Ended
Apr. 26, 2015
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure
Related Parties

On February 6, 2015, the Company entered into an agreement with the shareholders of Idosens, a start-up wireless device design company, whereby the Company acquired a 45% equity interest in Idosens for cash and issued an interest free loan for $1.2 million and a remaining loan commitment for $1.2 million. The first loan installment of $1.2 million was disbursed upon the formation of Idosens in the first quarter of fiscal year 2016. The second installment will be disbursed upon the completion by Idosens of certain milestones. The loan matures on the tenth anniversary of the date of the first disbursement. Both the initial loan disbursement and equity interest purchased are classified on the balance sheet as “Other assets”. The Company’s maximum exposure to loss is limited to $1.2 million at April 26, 2015.

On April 10, 2015, the Company entered into an agreement whereby it exchanged the microwave and defense communications business comprised of tangible and intangible assets and received in return a 21% equity interest in Jariet, in the form of preferred stock. The fair value of the equity interest of $0.6 million received approximated the carrying value of the asset group, which comprised the business. The Company also licensed certain intellectual property to Jariet in exchange for royalties on future net sales of licensed products by Jariet. Additionally, the Company sold product with a value of approximately $0.4 million to Jariet subsequent to the disposition of the business.