3 Scope of consolidation

3.1. Disclosure of interests in other entities

The scope of the consolidation does not include an interest in any of the following:

  • Subsidiaries with non-controlling interests
  • Associates
  • Joint arrangements

The companies which are included in the consolidated financial statements are listed in the notes to the statutory financial statements of Tecan Group Ltd.

3.2 Change in scope of consolidation: acquisition through business combination

The Group acquired 100 % of the voting rights of its Australian sales partner (Tecan Australia Pty Ltd) as of January 2, 2012. The company is located in Melbourne, Australia and employs nine people.

The fair value of the identifiable assets and liabilities of Tecan Australia Pty Ltd and the net cash outflow at the date of acquisition were:

CHF 1,000

02.01.2012

Cash and cash equivalents

32

Trade accounts receivable (gross contractual amount)

1,074

Inventories

613

Other current assets

104

Property, plant and equipment

6

Intangible asset “Acquired client relationships”

735

  

Assets

2,564

  

Trade accounts payable

(137)

Deferred revenue

(906)

Other current liabilities

(526)

Non-current provisions

(3)

Deferred tax liabilities

(125)

  

Liabilities

(1,697)

  

Total identifiable net assets at fair value

867

  

Goodwill arising on acquisition

p.m.

  

Consideration transferred for the business combination

867

  

Cash acquired

(32)

Contingent consideration

(286)

Settlement of pre-existing relationship (receivable/payable)

(430)

  

Net cash outflow

119

The acquisition was accounted for using the acquisition method. However, no goodwill resulted from the purchase price allocation. The first part of the related contingent consideration (earn-out) in the amount of CHF 145’000 was paid in January 2013. The remaining part in the same amount fell due end of 2013 and was paid at the beginning of 2014.

As control was transferred on January 2, 2012, the previous year is fully comparable with 2013.