|
Business Acquisitions (Tables)
|
12 Months Ended |
|
Dec. 31, 2013
|
|
FundQuest
|
|
| Business acquisitions |
|
| Summary of consideration in the acquisition |
|
Cash paid to owners
|
|
$
|
24,390
|
|
|
Non-cash consideration:
|
|
|
|
|
Favorable contract
|
|
4,897
|
|
|
Other
|
|
1,241
|
|
|
Cash acquired
|
|
(671
|
)
|
|
Working capital adjustment
|
|
(2,061
|
)
|
|
|
|
$
|
27,796
|
|
|
| Summary of the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition |
|
|
|
December 31, 2011
(as adjusted)
|
|
|
Accounts receivable
|
|
$
|
2,603
|
|
|
Prepaid expenses and other current assets
|
|
46
|
|
|
Property and equipment
|
|
442
|
|
|
Intangible assets
|
|
11,830
|
|
|
Goodwill
|
|
19,303
|
|
|
Accounts payable and accrued liabilities
|
|
(1,364
|
)
|
|
Deferred income taxes
|
|
(4,710
|
)
|
|
Deferred revenue
|
|
(354
|
)
|
|
|
|
|
|
|
Total net assets acquired
|
|
$
|
27,796
|
|
|
| Summary of intangible assets acquired, estimated useful lives and amortization method |
|
|
|
Amount
|
|
Weighted-
Average
Useful Life
In Years
|
|
Amortization
Method
|
|
|
Customer list
|
|
$
|
11,830
|
|
7
|
|
Accelerated
|
|
|
|
|
|
|
|
|
|
|
|
|
Prima
|
|
| Business acquisitions |
|
| Summary of consideration in the acquisition |
|
Cash paid to owners
|
|
$
|
13,750
|
|
|
Cash acquired
|
|
(1,767
|
)
|
|
Cash paid for working capital settlement
|
|
1,942
|
|
|
|
|
$
|
13,925
|
|
|
| Summary of the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition |
|
Accounts receivable
|
|
$
|
72
|
|
|
Prepaid expenses and other current assets
|
|
36
|
|
|
Notes receivable
|
|
860
|
|
|
Property and equipment
|
|
103
|
|
|
Deferred income taxes - non current
|
|
1,328
|
|
|
Intangible assets
|
|
4,940
|
|
|
Goodwill
|
|
9,283
|
|
|
Accounts payable and accrued liabilities
|
|
(171
|
)
|
|
Deferred income tax liabilities
|
|
(1,796
|
)
|
|
Deferred revenue
|
|
(730
|
)
|
|
Total net assets acquired
|
|
$
|
13,925
|
|
|
| Summary of intangible assets acquired, estimated useful lives and amortization method |
|
|
|
Amount
|
|
Weighted-
Average
Useful Life
in Years
|
|
Amortization
Method
|
|
|
Customer list
|
|
$
|
3,740
|
|
10
|
|
Accelerated
|
|
|
Proprietary technology
|
|
700
|
|
5
|
|
Accelerated
|
|
|
Trade names
|
|
500
|
|
5
|
|
Accelerated
|
|
|
Total
|
|
$
|
4,940
|
|
|
|
|
|
|
|
Tamarac
|
|
| Business acquisitions |
|
| Summary of consideration in the acquisition |
|
Cash paid to owners
|
|
$
|
54,000
|
|
|
Non-cash consideration
|
|
101
|
|
|
Cash acquired
|
|
(2,533
|
)
|
|
Receivable from working capital settlement
|
|
(3,141
|
)
|
|
|
|
$
|
48,427
|
|
|
| Summary of the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition |
|
Accounts receivable
|
|
$
|
489
|
|
|
Other receivables
|
|
681
|
|
|
Prepaid expenses and other current assets
|
|
216
|
|
|
Deferred income tax assets
|
|
7,235
|
|
|
Property and equipment
|
|
444
|
|
|
Deposits
|
|
379
|
|
|
Intangible assets
|
|
16,150
|
|
|
Goodwill
|
|
35,027
|
|
|
Accounts payable and accrued liabilities
|
|
(2,356
|
)
|
|
Deferred income tax liabilities
|
|
(5,907
|
)
|
|
Deferred revenue
|
|
(3,931
|
)
|
|
Total net assets acquired
|
|
$
|
48,427
|
|
|
| Summary of intangible assets acquired, estimated useful lives and amortization method |
|
|
|
Amount
|
|
Weighted-
Average
Useful Life
in Years
|
|
Amortization
Method
|
|
|
Customer list
|
|
$
|
8,680
|
|
12
|
|
Accelerated
|
|
|
Proprietary technology
|
|
5,880
|
|
8
|
|
Accelerated
|
|
|
Trade names
|
|
1,590
|
|
5
|
|
Accelerated
|
|
|
Total
|
|
$
|
16,150
|
|
|
|
|
|
|
|
WMS
|
|
| Business acquisitions |
|
| Summary of consideration in the acquisition |
|
Cash consideration
|
|
$
|
8,992
|
|
|
Contingent consideration
|
|
15,738
|
|
|
|
|
$
|
24,730
|
|
|
| Summary of the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition |
|
Total tangible assets acquired
|
|
$
|
1,296
|
|
|
Total liabilities assumed
|
|
(2,257
|
)
|
|
|
|
|
|
|
Identifiable intangible assets:
|
|
|
|
|
Customer list
|
|
14,000
|
|
|
Proprietary technology
|
|
3,000
|
|
|
Goodwill
|
|
8,691
|
|
|
Total net assets acquired
|
|
$
|
24,730
|
|
|
| Summary of intangible assets acquired, estimated useful lives and amortization method |
|
|
|
Amount
|
|
Weighted Average
Useful Life in Years
|
|
Amortization
Method
|
|
|
Customer list
|
|
$
|
14,000
|
|
12
|
|
Accelerated
|
|
|
Proprietary technology
|
|
3,000
|
|
1.5
|
|
Accelerated
|
|
|
Total
|
|
$
|
17,000
|
|
|
|
|
|
|
|
Prima, Tamarac and WMS
|
|
| Business acquisitions |
|
| Schedule of pro forma financial information |
|
|
|
At December 31,
|
|
|
|
|
2013
|
|
2012
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
$
|
274,983
|
|
$
|
223,838
|
|
|
Net loss
|
|
(9,935
|
)
|
(25,351
|
)
|
|
Net loss per share:
|
|
|
|
|
|
|
Basic
|
|
(0.30
|
)
|
(0.79
|
)
|
|
Diluted
|
|
(0.30
|
)
|
(0.79
|
)
|
|
|
|
|
|
|
|
|
|