Identix (IDNX) Message Board

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Technology Stocks : Identix (IDNX)

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To: David who wrote (12432)	2/10/1999 5:56:00 PM
From: David	Read Replies (1) of 26039

How much did the deal cost IDX? According to the paper filed today, the cost of the acquisition was just over $35 million, and it breaks down like this: Tangible assets . . . . . . . . $1.657M In-process R&D . . . . . . . . 10.044M Core technology . . . . . . . . 4.663M Assembled workforce . . . . . . . 202K Goodwill . . . . . . . . . . . .19.181M "The purchased in-process research and development is focused on the next generation of fingerprint readers which are expected to be of significantly reduced size and cost. Also under development is software required to integrate and support the next generation readers, to enhance the existing functionality of current products and to add additional capabilities." The S-4A goes on to say that IDT values R&D as 80% software and 20% hardware; expects all in-process work to be completed in one to three years; and, anticipates "material" cash flows resulting from this work to begin in 2000. Also, it looks like IDT and IDX value goodwill, core technology, and R&D as part of the book value brought to IDX in this deal. So the book value is expected to go from a present $0.93 to $1.69 per share.

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