Business Acquisitions In December 2012, the Company acquired Lorex Technology Inc. ("Lorex"), a provider of consumer oriented and professional grade video surveillance systems, for approximately $61.2 million in cash. At December 31, 2012, the Company initially reported the net tangible assets of $19.1 million in the respective balance sheet accounts and the excess purchase price of $42.1 million in other assets. The Company has since performed a purchase price allocation which resulted in an allocation of $15.1 million of identifiable intangible assets and $31.1 million of goodwill in conjunction with the Lorex acquisition, which has been recorded in the Company s Thermal Vision and Measurement segment. This goodwill consists largely of the ability of Lorex to provide the Company domain knowledge and distribution channels in adjacent security markets. These purchase price adjustments have been applied retrospectively to the December 31, 2012 balance sheet. The allocation of the purchase price is as follows (in thousands): Cash acquired $ 1,170 Accounts receivable, net 10,183 Inventories 13,967 Property and equipment 1,049 Other assets 3,004 Liabilities (10,252 ) Net tangible assets 19,121 Net deferred taxes (4,189 ) Identifiable intangible assets 15,100 Goodwill 31,138 Purchase price $ 61,170 None of the goodwill recognized is deductible for income tax purposes. The identifiable intangible assets and the estimated useful life of each are as follows (in thousands): Estimated Useful Life Amount Lorex Trade Name indefinite $ 6,800 Customer Relationships 7 years 8,300 $ 15,100 Also in December 2012, the Company acquired Traficon International NV ("Traficon"), a provider of video image processing software and hardware for traffic analysis applications, for approximately $46.3 million in cash. At December 31, 2012, the Company initially reported the net tangible assets of $5.1 million in the respective balance sheet accounts and the excess purchase price of $41.2 million in other assets. In April 2013, the Company mad