v3.26.1
Business Combinations
 9 Months Ended
Jun. 26, 2026
Business Combination [Abstract]  
Business Combination Business Combination
GE Licensing
On August 19, 2024, we acquired 100% of the issued and outstanding equity interests of GE Intellectual Property Licensing, LLC and GE Technology Development, Inc., which, collectively with each of their subsidiaries, comprised General Electric’s IP licensing business that primarily targeted the consumer digital media and electronics sectors ("GE Licensing" or the "acquiree"). The acquisition is an extension of our existing licensing businesses and is expected to strengthen and expand the scale of our IP portfolio. The total consideration for the acquisition is comprised as the following (in thousands):
Amount
Total amount paid for consideration$444,882 
Less: Noncontrolling interest in Via(9,921)
Settlement of pre-existing relationship(750)
Total consideration transferred for acquisition of GE Licensing434,211 
Less: Cash acquired(2,232)
Total consideration, net of cash acquired$431,979 
We have accounted for the taxable transaction under the acquisition method of accounting for business combinations, and the results of operations of GE Licensing have been included in our consolidated statements of operations from the date of acquisition. Additionally, we have estimated the fair values of the net tangible and intangible assets acquired, and liabilities assumed as of the acquisition date, with any amounts paid in excess of the net assets recorded as goodwill. The fair values assigned to assets acquired and liabilities assumed were based on management’s estimates and assumptions.
We initially acquired certain assets valued at $18.2 million and increased the estimated fair value of the assets held for sale by $6.3 million in fiscal 2025 for a total value of $24.5 million. These assets were classified as held for sale within prepaid expenses and other current assets on the consolidated balance sheets and are measured at fair value less cost to sell. During fiscal 2025, we sold $15.8 million of the assets classified as held for sale, and the remaining assets no longer met the criteria for held for sale, and as such, we reclassified $8.7 million in assets held for sale to short-term and long-term investments.