Annual report pursuant to Section 13 and 15(d)

Acquisitions (Tables)

v3.6.0.2
Acquisitions (Tables)
12 Months Ended
Dec. 31, 2016
Business Combinations [Abstract]  
Allocated Purchase Price Table
We allocated the purchase price for InstaManager, VMM, Notivus, and Kigo as follows:
 
 
InstaManager
 
VMM
 
Notivus
 
Kigo
 
 
(in thousands)
Intangible assets
 
 
 
 
 
 
 
 
Developed technologies
 
$
4,490

 
$
671

 
$
1,840

 
$
2,570

Client relationships
 

 
200

 

 
1,120

Trade names
 
527

 

 

 
602

Goodwill
 
4,135

 
358

 
2,852

 
32,996

Deferred revenue
 
(33
)
 

 
(156
)
 

Deferred tax liabilities, net
 

 

 

 
(495
)
Net other assets (liabilities)
 
55

 

 
(141
)
 
(547
)
Total purchase price
 
$
9,174

 
$
1,229

 
$
4,395

 
$
36,246

The preliminary allocation of each purchase price, including the effects of the measurement period adjustments described above, was as follows:
 
NWP
 
AssetEye
 
eSupply
 
(in thousands)
Restricted cash
$
4,960

 
$

 
$

Accounts receivable
7,902

 
90

 
259

Property, equipment, and software
3,194

 

 

Intangible assets:
 
 
 
 
 
Developed product technologies
2,740

 
1,638

 
2,160

Client relationships
12,900

 
1,041

 
1,390

Trade names
709

 
6

 
35

Goodwill
33,520

 
3,154

 
3,216

Deferred tax assets, net
11,173

 

 

Other assets, net of other liabilities
3,065

 
8

 
71

Accounts payable and accrued liabilities
(6,962
)
 

 
(147
)
Client deposits held in restricted accounts
(5,018
)
 

 

Deferred revenue

 
(16
)
 
(29
)
Deferred tax liabilities, net

 
(1,010
)
 

Total purchase price
$
68,183

 
$
4,911

 
$
6,955

We allocated the purchase price of Indatus and VRX as follows:
 
 
Indatus
 
VRX
 
 
(in thousands)
Accounts receivable
 
$
646

 
$

Intangible assets:
 
 
 
 
Developed product technologies
 
13,400

 
794

Client relationships
 
9,770

 
11

Trade names
 
83

 

Goodwill
 
25,575

 
1,186

Other liabilities, net of other assets
 
(57
)
 

Total purchase price
 
$
49,417

 
$
1,991

Pro Forma Financial Information
The following table presents unaudited pro forma results of operations for the years ended December 31, 2016 and 2015 as if the aforementioned acquisitions had occurred at the beginning of each period presented. The pro forma financial information includes the business combination accounting effects resulting from these acquisitions, including $1.4 million and $7.3 million of amortization charges from acquired intangible assets as of December 31, 2016 and 2015, respectively. We prepared the pro forma financial information for the combined entities for comparative purposes only, and it is not indicative of what actual results would have been if the acquisitions had occurred at the beginning of the periods presented, or of future results.
 
 
Year Ended December 31,
 
 
2016
Pro Forma
 
2015
Pro Forma
 
 
(in thousands, except per share amounts)
 
 
(unaudited)
Total revenue
 
$
578,985

 
$
534,625

Net income (loss)
 
$
16,065

 
$
(12,075
)
Net income (loss) per share:
 
 
 
 
Basic and diluted
 
$
0.21

 
$
(0.16
)