Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

v2.4.1.9
Subsequent Events
3 Months Ended
Mar. 31, 2015
Subsequent Events [Abstract]  
Subsequent Events
12. SUBSEQUENT EVENTS:

Acquisitions

During the second quarter of 2015, Quanta has completed two acquisitions. The companies acquired include a powerline construction company located in the United States and an engineering company located in Canada, each of which will be included in Quanta’s Electric Power Infrastructure Services segment. The aggregate consideration paid or payable for these acquisitions was approximately $25.4 million in cash, subject to net working capital and other adjustments. As these transactions were effective during the second quarter of 2015, the results will be included in Quanta’s consolidated financial statements beginning on the dates of acquisition. These acquisitions should enable Quanta to further enhance its electric power infrastructure service offerings in the United States and its engineering service offerings in Canada.

Potential Disposition - Fiber Optic Licensing Operations

On April 29, 2015, Quanta entered into a definitive agreement to sell its fiber optic licensing operations for a purchase price of approximately $1 billion in cash, subject to certain limited adjustments. Quanta anticipates that the sale will close by December 31, 2015; however, the transaction is subject to various regulatory approvals and other customary conditions prior to closing. The potential sale of the fiber optic licensing operations did not meet the requirements of the related authoritative guidance to qualify for held for sale or discontinued operations reporting as of March 31, 2015. Quanta will continue to evaluate whether the potential sale of its fiber optic licensing operations meets the requirements for held for sale or discontinued operations reporting in future reporting periods.