Subsequent Events |
6 Months Ended |
|---|---|
Jun. 28, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events On July 1, 2026, we acquired certain entities that comprise Ruckus Networks (“RUCKUS”) for approximately $1.9 billion. To fund the purchase of RUCKUS, we entered into a Term Loan Credit Facility on July 1, 2026. The Term Loan Credit Facility bears interest either, at the Company’s election, at term SOFR plus 2.25% or a base rate plus 1.25% per annum. The Term Loan Credit Facility amortizes 0.25% per quarter and matures on July 1, 2033. RUCKUS, based in California, provides wireless networks for enterprises and service providers. Product offerings include indoor cellular solutions such as indoor and outdoor Wi-Fi and long-term evolution access points, access and aggregation switches; an Internet of Things suite, on-premises and cloud-based control and management systems; and software and software-as-a-service applications addressing security, location, reporting and analytics. We are in the preliminary phase of the purchase accounting process, including obtaining third party valuations of certain tangible and intangible assets acquired. As such, the purchase accounting process is incomplete and we cannot provide the estimated fair value of the assets and liabilities acquired for this business combination. We expect; however, to record a significant amount of definite-lived intangible assets and goodwill related to this acquisition. Also on June 29, 2026, we borrowed $50.0 million on our Revolver at a current rate of 4.9%. See Note 8.
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