Blackberry 2004 Annual Report Download - page 45

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43
For the years ended February 28, 2004, March 1, 2003 and March 2, 2002
8. Acquisitions
During fiscal 2004, the purchase price related to
one of the fiscal 2003 acquisitions was revised,
resulting in a reduction to goodwill of $479 and a
return of consideration.
During fiscal 2003 the Company completed four
acquisitions. Effective June 2002, the Company
purchased the assets of a company whose
proprietary software code provides capabilities to
facilitate foreign language input and display on
handheld products. Effective July 2002, the
Company acquired 100% of the common shares of a
company that will offer a secure solution for viewing
email attachments with BlackBerry Wireless
Handhelds. Effective August 2002, the Company
acquired 100% of the common shares of a company
that has software products which enable wireless
access to major email systems including corporate,
proprietary and POP3/IMAP4 using a handheld
device. In addition, effective September 2002, the
Company also acquired 100% of the common shares
of a small company with expertise and technology
related to wireless networks. The results of the
acquirees’ operations have been included in the
consolidated financial statements for the periods from
each respective closing date to February 28, 2004.
On October 31, 2001, the Company acquired 100%
of the outstanding common shares of a company for
its technology and expertise in the wireless delivery
of rich graphical content. This company develops
Java-based media platforms for wireless devices.
The results of this company’s operations have been
included in the consolidated financial statements
since October 31, 2001. The value of the 387,353
common shares issued in 2002 was determined
based on the average of the market price of the
Company’s common shares over the two-day period
before and after the terms of the acquisition were
agreed to.
The following table summarizes the estimated fair
value of the assets acquired and liabilities assumed
at the date of acquisition.
For the year ended March 1, 2003 March 2, 2002
Assets purchased
Capital assets $ 317 $ –
Acquired technology 7,326 2,685
Goodwill 16,193 14,395
23,836 17,080
Liabilities assumed - non-cash working capital 1,275 1,046
Deferred income tax liability 357 –
1,632 1,046
Net non-cash assets acquired 22,204 16,034
Cash acquired 117 152
Net assets acquired $22,321 $ 16,186
Consideration
Cash $ 22,107 $ 9,861
Assumption of acquiree long-term debt 214 –
Capital stock – 6,325
$ 22,321 $ 16,186