Annual report pursuant to Section 13 and 15(d)

Business Acquisitions (Tables)

v3.20.4
Business Acquisitions (Tables)
12 Months Ended
Dec. 31, 2020
Business Combinations [Abstract]  
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)