Annual report pursuant to Section 13 and 15(d)

Acquisitions (Tables)

v3.22.4
Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule 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:

Preliminary Estimate Measurement Period Adjustments Revised Estimate
(in thousands)
Tangible assets acquired, net of cash(1)
$ 2,032  $ 3,278  $ 5,310 
Total liabilities assumed (596) 54  (542)
Identifiable intangible assets 9,500  —  9,500 
Goodwill 21,858  (3,332) 18,526 
Total net assets acquired $ 32,794  $ —  $ 32,794 
__________________________________________________________
(1) The Company recorded measurement period adjustments of $3.3 million primarily due to the establishment of deferred tax assets during the year ended December 31, 2021.
The following table summarizes the estimated fair values of the assets acquired at the date of acquisition:

Preliminary Estimate Measurement Period Adjustments Revised Estimate
(in thousands)
Tangible assets acquired, net of acquired cash $ 94  $ 10  $ 104 
Identifiable intangible assets 3,000  —  3,000 
Goodwill 11,378  18  11,396 
Total net assets acquired $ 14,472  $ 28  $ 14,500 
The following table summarizes the estimated fair values of the assets acquired at the date of acquisition:

Preliminary Estimate Measurement Period Adjustments Revised Estimate
(in thousands)
Tangible net assets acquired, net of acquired cash $ 532  $ (22) $ 510 
Identifiable intangible assets 4,000  —  4,000 
Goodwill 16,195  22  16,217 
Total net assets acquired $ 20,727  $ —  $ 20,727 
In connection with the Redi2 acquisition, the Company paid estimated consideration as follows:

Preliminary Estimate Measurement Period Adjustments Revised Estimate
(in thousands)
Cash consideration, net $ 69,406  $ —  $ 69,406 
Estimated working capital adjustment (1,465) 932  (533)
Total $ 67,941  $ 932  $ 68,873 
The following table summarizes the estimated fair values of the assets acquired at the date of acquisition:

Preliminary Estimate Measurement Period Adjustments Revised Estimate
(in thousands)
Total current assets $ 1,985  $ —  $ 1,985 
Other non-current assets 3,349  (28) 3,321 
Identifiable intangible assets 26,500  —  26,500 
Goodwill 44,236  2,231  46,467 
  Total assets acquired 76,070  2,203  78,273 
Accounts payable and accrued expenses (1,157) (1,271) (2,428)
Operating lease liabilities (2,201) —  (2,201)
Deferred revenue (4,771) —  (4,771)
  Total liabilities assumed (8,129) (1,271) (9,400)
    Total net assets acquired, net of cash received $ 67,941  $ 932  $ 68,873 
Schedule of Intangible Assets Acquired, Estimated Useful Lives and Amortization Method
A summary of estimated intangible assets acquired, estimated useful lives and amortization method is as follows:

Preliminary Estimate
(in thousands)		 Estimated Useful Life in Years Amortization Method
Proprietary technology $ 6,900  6 Straight-line
Customer list 2,600  14 Accelerated
Total intangible assets acquired $ 9,500 
A summary of estimated intangible assets acquired, estimated useful lives and amortization method is as follows:

Preliminary Estimate
(in thousands)		 Estimated Useful Life in Years Amortization Method
Proprietary technology $ 3,000  5 Straight-line
A summary of estimated intangible assets acquired, estimated useful lives and amortization method is as follows:

Preliminary Estimate
(in thousands)		 Estimated Useful Life in Years Amortization Method
Proprietary technology $ 4,000  5 Straight-line
A summary of estimated intangible assets acquired, estimated useful lives and amortization method is as follows:

Preliminary Estimate
(in thousands)		 Estimated Useful Life Amortization Method
Customer lists $ 14,000 
14-16 years
 Accelerated
Proprietary technologies 9,500 
6 years
 Straight-line
Trade names 3,000 
6-7 years
 Straight-line
Total intangible assets acquired $ 26,500