Quarterly report pursuant to Section 13 or 15(d)

Business Combinations

v3.4.0.3
Business Combinations
 3 Months Ended
Mar. 31, 2016
Business Combinations [Abstract]  
Business Combinations
Business Combinations

During the quarter ended September 30, 2015, the Company completed four acquisitions. The following table summarizes the preliminary fair value of the assets and liabilities assumed in the acquisitions (in thousands):

 
Weighted Average Useful Life (Years)
 
Amounts at December 31, 2015 (Preliminary)
 
Adjustments
 
Purchase Price Allocation, as Adjusted
Goodwill
 
 
$
41,093

 
$
(812
)
 
$
40,281

Customer relationships
7.6
 
14,000

 
—

 
14,000

Developed technology
5.7
 
21,900

 
—

 
21,900

Trade name
5.0
 
200

 
—

 
200

Accounts receivable
 
 
6,450

 
—

 
6,450

Property and equipment
 
 
1,783

 
—

 
1,783

Deferred tax liability (preliminary)
 
 
(11,047
)
 
—

 
(11,047
)
Accrued expenses
 
 
(4,379
)
 
—

 
(4,379
)
Other liabilities assumed, net of assets acquired (preliminary)
 
 
(1,669
)
 
812

 
(857
)
Total consideration transferred
 
 
$
68,331

 
$
—

 
$
68,331



During the quarter ended March 31, 2016, the Company revised its analysis of the fair value of its acquisitions. The revised analysis related to a pre-acquisition contingency that was recently identified relating to a change in the Company's ability to recover amounts held in escrow by the seller of the RMG Assets. Due to the preliminary nature of the financial results prior to each of the acquisitions in 2015, the Company was unable to provide an accurate assessment of certain deferred tax assets, deferred tax liabilities and estimated income taxes payable for the period(s) prior to each acquisition date. As such, these balances are considered preliminary at March 31, 2016 and are expected to be finalized by June 30, 2016.