| Summary of the estimated fair values of the assets acquired and liabilities assumed |
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition:
|
|
|
|
|
|
|
|
|
| Cash and cash equivalents |
|
$ |
4,876 |
|
| Accounts receivable |
|
4,962 |
|
| Prepaid expenses and other current assets |
|
3,773 |
|
| Property and equipment, net |
|
927 |
|
| Other non-current assets |
|
441 |
|
| Identifiable intangible assets |
|
135,700 |
|
| Goodwill |
|
79,891 |
|
| Total assets acquired |
|
230,570 |
|
| Accounts payable |
|
(5,358) |
|
| Accrued expenses |
|
(7,907) |
|
| Deferred tax liability |
|
(23,300) |
|
| Deferred revenue |
|
(806) |
|
| Other non-current liabilities |
|
(64) |
|
| Total liabilities assumed |
|
(37,435) |
|
| Total net assets acquired |
|
$ |
193,135 |
|
The consideration transferred in the acquisition was as follows:
|
|
|
|
|
|
|
|
|
| Cash consideration |
|
$ |
11,173 |
|
| Purchase consideration liability |
|
6,240 |
|
| Contingent consideration liability |
|
7,580 |
|
| Working capital adjustment |
|
70 |
|
| Total consideration transferred |
|
$ |
25,063 |
|
The consideration transferred in the acquisition was as follows:
|
|
|
|
|
|
|
|
|
| Cash consideration |
|
$ |
17,500 |
|
| Contingent consideration liability |
|
8,200 |
|
| Total consideration transferred |
|
$ |
25,700 |
|
The consideration transferred in the acquisition was as follows:
|
|
|
|
|
|
|
|
|
| Cash consideration |
|
$ |
298,714 |
|
| Stock consideration |
|
222,484 |
|
| Less: cash acquired |
|
(6,360) |
|
| Total consideration transferred, net of cash acquired |
|
$ |
514,838 |
|
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition:
|
|
|
|
|
|
|
|
|
| Cash and cash equivalents |
|
$ |
6,360 |
|
| Accounts receivable |
|
3,782 |
|
| Prepaid expenses and other current assets |
|
969 |
|
| Other non-current assets |
|
4,274 |
|
| Property and equipment, net |
|
6,057 |
|
| Operating lease right-of-use assets, net |
|
2,012 |
|
| Identifiable intangible assets |
|
253,000 |
|
| Goodwill |
|
323,951 |
|
| Total assets acquired |
|
600,405 |
|
| Accounts payable and accrued expenses |
|
(1,661) |
|
| Operating lease liabilities |
|
(2,012) |
|
| Deferred income taxes |
|
(68,534) |
|
| Deferred revenue |
|
(7,000) |
|
| Total liabilities assumed |
|
(79,207) |
|
| Total net assets acquired |
|
$ |
521,198 |
|
|
| Summary of intangible assets acquired, estimated useful lives and amortization method |
A summary of estimated identifiable intangible assets acquired, estimated useful lives and amortization method follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Estimated |
|
Amortization |
| |
|
Amount |
|
Useful Life in Years |
|
Method |
| Customer list |
|
$ |
113,500 |
|
|
13 |
|
Accelerated |
| Proprietary technology |
|
17,500 |
|
|
5 |
|
Straight-line |
| Trade names and domains |
|
4,700 |
|
|
6 |
|
Straight-line |
| Total intangible assets acquired |
|
$ |
135,700 |
|
|
|
|
|
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition:
|
|
|
|
|
|
|
|
|
| Total tangible assets acquired |
|
$ |
144 |
|
| Total liabilities assumed |
|
(688) |
|
| Identifiable intangible assets |
|
4,100 |
|
| Goodwill |
|
21,507 |
|
| Total net assets acquired |
|
$ |
25,063 |
|
A summary of estimated intangible assets acquired, estimated useful lives and amortization method follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Estimated |
|
Amortization |
| |
|
Amount |
|
Useful Life in Years |
|
Method |
| Proprietary technology |
|
$ |
4,100 |
|
|
4 |
|
Straight-line |
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition:
|
|
|
|
|
|
|
|
|
| Total tangible assets acquired |
|
$ |
13 |
|
| Total liabilities assumed |
|
(1,600) |
|
| Identifiable intangible assets |
|
11,700 |
|
| Goodwill |
|
15,587 |
|
| Total net assets acquired |
|
$ |
25,700 |
|
A summary of estimated intangible assets acquired, estimated useful lives and amortization method follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Estimated |
|
Amortization |
| |
|
Amount |
|
Useful Life in Years |
|
Method |
| Customer list |
|
$ |
8,500 |
|
|
10 |
|
Accelerated |
| Proprietary technology |
|
3,200 |
|
|
5 |
|
Straight-line |
| Total intangible assets acquired |
|
$ |
11,700 |
|
|
|
|
|
A summary of estimated intangible assets acquired, estimated useful lives and amortization method follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Estimated |
|
Amortization |
| |
|
Amount |
|
Useful Life in Years |
|
Method |
| Customer lists |
|
$ |
222,000 |
|
|
10-20 |
|
Accelerated |
| Proprietary technologies |
|
23,000 |
|
|
4 |
|
Straight-line |
| Trade names |
|
8,000 |
|
|
7 |
|
Straight-line |
| Total intangible assets acquired |
|
$ |
253,000 |
|
|
|
|
|
|
| Pro forma information |
Pro forma financial information is presented for informational purposes and is not indicative of the results of operations that would have been achieved if the acquisitions had taken place as of the beginning of 2018.
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
Year Ended |
| |
|
|
|
December 31, 2019 |
| Revenues |
|
|
|
$ |
919,291 |
|
| Net loss attributable to Envestnet, Inc. |
|
|
|
(16,860) |
|
| Net loss per share attributable to Envestnet, Inc.: |
|
|
|
|
| Basic |
|
|
|
$ |
(0.32) |
|
| Diluted |
|
|
|
$ |
(0.32) |
|
|