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This excerpt taken from the BKHM 10-K filed Sep 14, 2006. Acquisition
of the Optical Components Business of Nortel
Networks
Of the total $119.0 million consideration for the optical
components business of Nortel Networks in November 2002, the
initial allocation to acquired in-process research and
development was $7.3 million. This initial allocation was
subsequently adjusted following the required review of the
purchase price allocation during the second half of 2003,
resulting in a reduction of the allocated in-process research
and development by $1.7 million, which was recognized as a
credit in 2003.
At the time of the acquisition the projects remaining under
development at the acquisition date were expected to result in a
portfolio addressing tunability, bandwidth, integration,
amplification, and managed optical networks. These projects were
split into two distinct categories: NPI and TR. The TR projects,
which met the criteria for recognition as in-process research
and development, were assessed as requiring between one and one
and a half years before attaining NPI status. All estimated
costs to complete were to be funded from our current cash
reserves. The current status of each category is given below.
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