Company: SXI
Filing Date: 2025-08-04
Form Type: 10-K
Source: 0001437749-25-024450
Chunk: 316

Company: STANDEX INTERNATIONAL CORP/DE/
Filing Date: 2025-08-04
Form: 10-K
Item: Item 8
Chunk 316
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 current sensors, coils, chokes, and filters. The products are used in applications across cable fiber, smart meters, industrial control and lighting, electric vehicles, and home security markets. Minntronix' results are reported within the Company's Electronics segment.
    
   The purchase price was allocated to the net tangible and identifiable intangible assets acquired and liabilities assumed based on a valuation of their fair values on the closing date. Goodwill recorded from this transaction is attributable to Minntronix's technical and applications expertise, which is highly complementary to the Company's existing business.
    
   Identifiable intangible assets of $10.7 million consist primarily of $3.2 million for indefinite lived tradenames and $7.5 million of customer relationships to be amortized over 15 years. The goodwill of $13.9 million created by the transaction is not deductible for income tax purposes. The accounting for business combinations requires estimates and judgments regarding expectations for future cash flows of the acquired business, and the allocations of those cash flows to identifiable tangible and intangible assets, in determining the assets acquired and liabilities assumed. The fair values assigned to tangible and intangible assets acquired and liabilities assumed are based on management's best estimates and assumptions, as well as other information compiled by management, including valuations that utilize customary valuation procedures and techniques. 

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   The components of the fair value of the Minntronix acquisition, including the final allocation of the purchase price are as follows (in thousands): 

       Final Allocation as of September 30, 2024 
 Fair value of business combination:    
 Cash payments   33,890
 Less, cash acquired   (4,661)
 Total  $29,229

 Identifiable assets acquired and liabilities assumed:    
 Other acquired assets  $8,282
 Customer backlog   1,120
 Inventories   1,780
 Property, plant, & equipment   1,039
 Identifiable intangible assets   10,700
 Goodwill   13,889
 Liabilities assumed   (7,581)
 Total  $29,229

   Sanyu
    
   On  February 19, 2024, the Company completed the purchase of all the issued and outstanding equity interests of Sanyu Switch Co., Ltd (Sanyu), a privately held company for $