Annual report pursuant to Section 13 and 15(d)

Acquisitions (Tables)

v3.3.1.900
Acquisitions (Tables)
12 Months Ended
Dec. 31, 2015
Business Combinations [Abstract]  
Allocated Purchase Price Table
We preliminarily 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

Customer relationships
 
9,770

 
11

Trade names
 
83

 

Goodwill
 
25,575

 
1,186

Net other liabilities
 
(57
)
 

Total purchase price
 
$
49,417

 
$
1,991

We allocated the purchase price for SFL, RentSentinel, Windsor Compliance, MyBuilding, and Active Building as follows:
 
 
SFL
 
RentSentinel
 
Windsor Compliance
 
MyBuilding
 
Active Building
 
 
(in thousands)
Intangible assets:
 
 
 
 
 
 
 
 
 
 
Developed product technologies
 
$
1,406

 
$
4,238

 
$

 
$
1,450

 
$
3,850

Customer relationships
 
161

 
2,390

 
1,230

 
1,000

 
2,650

Trade names
 

 

 

 
328

 
597

Goodwill
 
1,035

 
3,633

 
1,302

 
5,043

 
7,198

Deferred revenue
 

 
(304
)
 
(107
)
 
(258
)
 

Net deferred taxes
 

 
226

 

 
(813
)
 

Net other assets
 
88

 
313

 
226

 
111

 
76

Total purchase price
 
$
2,690

 
$
10,496

 
$
2,651

 
$
6,861

 
$
14,371

We allocated the purchase price for InstaManager, VMM, Notivus, and Kigo as follows:
 
 
InstaManager
 
VMM
 
Notivus
 
Kigo
 
 
(in thousands)
Intangible assets:
 
 
 
 
 
 
 
 
Developed product technologies
 
$
4,490

 
$
671

 
$
1,840

 
$
2,570

Customer relationships
 

 
200

 

 
1,120

Trade names
 
527

 

 

 
602

Goodwill
 
4,135

 
358

 
2,852

 
32,996

Deferred revenue
 
(33
)
 

 
(156
)
 

Net deferred taxes
 

 

 

 
(495
)
Net other assets (liabilities)
 
55

 

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

 
$
1,229

 
$
4,395

 
$
36,246

Pro Forma Financial Information
The following table presents unaudited pro forma results of operations for 2015 and 2014 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 $2.5 million and $6.5 million of amortization charges from acquired intangible assets as of December 31, 2015 and 2014, 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,
 
 
2015
Pro Forma
 
2014
Pro Forma
 
 
(in thousands, except per share amounts)
 
 
(unaudited)
Revenue:
 
 
 
 
On demand
 
$
456,082

 
$
403,373

On premise
 
2,970

 
3,094

Professional and other
 
14,588

 
10,835

Total revenue
 
473,640

 
417,302

Net loss
 
$
(10,035
)
 
$
(13,346
)
Net loss per share:
 
 
 
 
Basic
 
$
(0.13
)
 
$
(0.17
)
Diluted
 
$
(0.13
)
 
$
(0.17
)