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ACQUISITIONS | 3 Months Ended
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Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
ACQUISITIONS | ACQUISITIONS On June 11, 2024, we completed the purchase of 100% of the issued and outstanding capital stock of The Gearbox Entertainment Company, Inc. ("Gearbox"), from Embracer Group AB, for an initial consideration of 2.8 shares of our common stock, as part of our ongoing strategy to strengthen our industry-leading creative talent and portfolio of owned intellectual property. The acquisition-date fair value of the consideration totaled $411.4, which consisted of the following:
| Fair value of purchase consideration
Common stock (2.8 shares) | $ | 448.6 |
Deferred payment | 2.0 |
Settlement of pre-existing relationship | (14.6) |
Transaction bonus | (24.6) |
Total | $ | 411.4 |
We used the acquisition method of accounting and recognized assets and liabilities at their fair value as of the date of acquisition, with the excess recorded to goodwill. The following table summarizes the acquisition date fair value of net tangible and intangible assets acquired, net of liabilities assumed from Gearbox:
| Fair Value | Weighted average useful life
Cash acquired | $ | 9.5 |  | N/A
Other tangible assets | 159.7 |  | N/A
Other liabilities assumed | (151.2) |  | N/A
Intangible assets |  |
Intellectual property | 79.0 |  | 14
Developed game technology | 72.0 |  | 2
Games in development | 36.0 |  | N/A
Game engine technology | 9.0 |  | 2
Branding and trade names | 8.0 |  | 7
Goodwill | 189.4 |  | N/A
Total | $ | 411.4 |  |
Goodwill, which is not deductible for tax purposes, is primarily attributable to the assembled workforce of the acquired business and expected synergies at the time of the acquisition.

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