Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

v3.10.0.1
Acquisitions (Tables)
6 Months Ended
Jun. 30, 2018
Business Combinations [Abstract]  
Allocated Purchase Price
The allocation of each purchase price, including the effects of measurement period adjustments recorded as of June 30, 2018, was as follows:
 
Axiometrics
 
AUM
 
On-Site
 
PEX
 
LRO
 
(Final)
 
(Final)
 
(Provisional)
 
(Provisional)
 
(Provisional)
 
(in thousands)
Restricted cash
$

 
$
5,954

 
$
3,458

 
$

 
$

Accounts receivable
1,620

 
2,409

 
4,718

 
107

 
4,498

Property, equipment, and software
400

 
319

 
789

 
8

 
1,507

Intangible assets:
 
 
 
 
 
 
 
 
 
Developed product technologies
15,500

 
10,800

 
16,960

 
2,350

 
42,000

Client relationships
6,830

 
7,470

 
41,360

 
590

 
49,000

Trade names
3,200

 
208

 
7,000

 
160

 
666

Non-compete agreements

 
3,920

 

 

 

Goodwill
54,190

 
45,907

 
184,520

 
3,309

 
202,852

Other assets
273

 
850

 
826

 
78

 
475

Accounts payable and accrued liabilities
(367
)
 
(2,150
)
 
(938
)
 
(242
)
 
(214
)
Client deposits held in restricted accounts

 
(5,954
)
 
(3,458
)
 

 

Deferred revenue
(7,115
)
 
(321
)
 
(565
)
 
(221
)
 
(861
)
Other long-term liabilities
(774
)
 

 

 

 

Deferred tax liability

 

 
(1,240
)
 
(108
)
 

Total purchase price
$
73,757

 
$
69,412

 
$
253,430

 
$
6,031

 
$
299,923


The preliminary allocation of the ClickPay purchase price is as follows, in thousands:
Restricted cash
 
 
 
 
 
 
 
 
$
1,313

Accounts receivable
 
 
 
 
 
 
 
 
2,714

Property, equipment, and software
 
 
 
 
 
 
 
 
89

Intangible assets:
 
 
 
 
 
 
 
 
 
Developed product technologies
 
 
 
 
 
 
 
 
29,100

Client relationships
 
 
 
 
 
 
 
 
20,700

Trade names
 
 
 
 
 
 
 
 
2,900

Goodwill
 
 
 
 
 
 
 
 
168,033

Other assets
 
 
 
 
 
 
 
 
489

Accounts payable and accrued liabilities
 
 
 
 
 
 
 
 
(2,698
)
Client deposits held in restricted accounts
 
 
 
 
 
 
 
 
(1,313
)
Deferred tax liability, net
 
 
 
 
 
 
 
 
(4,430
)
Total purchase price

 

 

 

 
$
216,897

Pro Forma Financial Information
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2018
Pro Forma
 
2017
Pro Forma
 
2018
Pro Forma
 
2017
Pro Forma
 
(unaudited)
 
(in thousands, except per share amounts)
Total revenue
$
218,259

 
$
197,492

 
$
427,145

 
$
386,592

Net income
8,966

 
4,867

 
18,757

 
8,001

Net income per share:
 
 
 
 
 
 
 
Basic
$
0.11

 
$
0.06

 
$
0.23

 
$
0.10

Diluted
$
0.10

 
$
0.06

 
$
0.21

 
$
0.10