Business Acquisition

12 Months Ended

Apr. 01, 2012

Business Acquisition [Abstract]

Business Acquisition

Note 3. Business Acquisition

On April 27, 2009, the Company acquired NetXen, Inc. (NetXen) in a merger transaction. Cash consideration was $17.6 million for all outstanding NetXen capital stock. NetXen developed, marketed and sold Ethernet adapter and controller products targeted at the enterprise server market. The acquisition agreement required that $5.1 million of the consideration be placed into an escrow account in connection with certain representations and warranties. The escrowed amounts were accounted for as cash consideration as of the date of acquisition. During fiscal 2012, the Company received $1.4 million from the escrow account to settle all outstanding claims and has included the amount in the Company’s consolidated statement of income for fiscal 2012. As of April 1, 2012, no amounts remain in the escrow account.