BUSINESS COMBINATIONS Acquisition of Liteq On July 2, 2017, the Company, through a wholly owned subsidiary, entered into a Share Sale and Purchase Agreement (the Agreement) with the shareholders of Liteq to purchase all of the outstanding equity interests of Liteq. Liteq is a lithography solutions provider for advanced packaging. The purchase price consists of EUR 25.0 million (approximately $28.6 million ) cash paid at closing and additional potential earn-out payments based on Liteq's cumulative pre-tax earnings and cumulative engineering expenses for fiscal 2018 to 2022. The acquisition expands the Company's presence in the advanced packaging market. The acquisition of Liteq was accounted for in accordance with ASC No. 805, Business Combinations, using the acquisition method. The Company has estimated the preliminary fair value of acquired assets and liabilities as of the date of acquisition based on information available. The valuation of these tangible and identifiable intangible assets and liabilities is subject to further management review and may change materially between the preliminary allocation and end of the purchase price allocation period of July 2, 2018. Any changes in these estimates may have a material impact on our Consolidated Condensed Statements of Operations or Consolidated Condensed Balance Sheets. The following table summarizes the allocation of the assets acquired and liabilities assumed based on the fair values as of the acquisition date and related useful lives of the finite-lived intangible assets acquired: (in thousands) July 2, 2017 Prepaid expenses and other current assets $ 199 Property, plant and equipment 107 Intangibles 18,060 Goodwill 10,253 Accounts payable (157 ) Accrued expenses and other current liabilities (103 ) Deferred tax liabilities (1,240 ) Total purchase price, net of cash acquired $ 27,119 Tangible net assets (liabilities) were valued at their respective carrying amounts, which the Company believes approximate their current fair values at the acquisition date. T