Logitech 2012 Annual Report Download - page 268

LOGITECH INTERNATIONAL S.A.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Long-lived assets by geographic region were as follows (in thousands):
March 31,
2012 2011
Americas ........................................... $41,254 $34,587
EMEA ............................................. 9,304 9,774
Asia Pacific ......................................... 41,576 45,272
Total long-lived assets .............................. $92,134 $89,633
Long-lived assets in China and the United States each represented more than 10% of the Company’s total
consolidated long-lived assets at March 31, 2012 and 2011.
Note 14 — Acquisitions and Divestitures
Mirial
On July 18, 2011, the Company acquired all of the outstanding shares of Mirial S.r.l., a Milan-based privately-
held provider of personal and mobile video conferencing solutions, for a total consideration of $18.8 million
(A13.0 million), net of cash acquired of $1.4 million (A1.0 million). In addition, Logitech incurred $0.4 million
in transaction costs, which are included in operating expenses in fiscal year 2012. Mirial has been integrated into
the video conferencing reporting unit, and we expect that its technology will be used to enhance video connection
capabilities on a variety of mobile devices and networks.
The acquisition has been accounted for using the purchase method of accounting. Accordingly, the total
consideration was allocated to the tangible and intangible assets acquired and liabilities assumed based on
their estimated fair values as of the acquisition date. Fair values were determined by Company management
based on information available at the date of acquisition. The results of operations of Mirial were included in
Logitech’s consolidated financial statements from the date of acquisition, and were not material to the Company’s
reported results.
The allocation of total consideration to the assets acquired and liabilities assumed based on the estimated fair
value of Mirial were as follows (in thousands):
July 18,
2011
Estimated
Life
Tangible assets acquired ........................................ $ 3,332
Intangible assets acquired
Existing technology ........................................ 4,200 5 years
Customer relationships and other ............................. 1,500 3 years
Trademark/trade name...................................... 200 4 years
Goodwill................................................. 14,415 —
23,647
Liabilities assumed ............................................ (1,358)
Deferred tax liability, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,068)
Total consideration......................................... $20,221
Note 13 — Segment Information (Continued)
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