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SEAGATETECHNOLOGYPLC
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS—(Continued)
XyratexLtd
OnMarch31,2014,theCompanyacquiredalloftheoutstandingsharesofXyratexLtd("Xyratex"),aleadingproviderofdatastoragetechnology.The
Companypaid$13.25pershare,orapproximately$376millionincashfortheacquisition.TheacquisitionofXyratexfurtherstrengthenstheCompany'svertically
integratedsupplyandmanufacturingchainfordiskdrivesandprovidesaccesstoimportantcapitalrequirements,aswellasexpandstheCompany'sstorage
solutionsportfolio.
Thefollowingtablesummarizestheestimatedfairvaluesoftheassetsacquiredandliabilitiesassumedattheacquisitiondate:
Thefollowingtableshowsthefairvalueoftheseparatelyidentifiableintangibleassetsatthetimeofacquisitionandtheperiodoverwhicheachintangible
assetwillbeamortized:
Thegoodwillrecognizedisprimarilyattributabletothesynergiesexpectedtoariseaftertheacquisition,andisnotdeductibleforincometaxpurposes.
TheCompanyincurredatotalof$10millionofexpensesrelatedtotheacquisitionofXyratexinfiscalyear2014,whichareincludedwithinMarketingand
administrativeexpenseontheConsolidatedStatementofOperations.
TheamountsofrevenueandearningsofXyratexincludedintheCompany'sConsolidatedStatementofOperationsfromtheacquisitiondatethroughtheend
offiscalyearendedJune27,2014werenotsignificant.
80
(Dollarsinmillions) Amount
Cashandcashequivalents $ 91
Accountsreceivable,net 67
Inventories 111
Othercurrentandnon-currentassets 28
Property,plantandequipment 55
Intangibleassets 80
Goodwill 60
Totalassets 492
Accountspayableandaccruedexpenses (116)
Totalliabilities (116)
Total $ 376
(Dollarsinmillions) FairValue
Weighted-Average
Amortization
Period
Existingtechnology $ 23 5.5years
Customerrelationships 18 3.9years
Totalamortizableintangibleassetsacquired 41 4.8years
In-processresearchanddevelopment 39
Totalacquiredidentifiableintangibleassets $ 80