v3.24.3

ACQUISITIONS (Tables)

9 Months Ended

Sep. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Components of Preliminary Purchase Price Allocation

The table below represents the final purchase price allocation to total assets acquired and liabilities assumed based on their respective estimated fair values as of October 2, 2023 and the associated estimated useful lives of acquired intangibles as of that date.

(in thousands)						Estimated Useful Life						Fair Value
Cash and cash equivalents												$	5,397
Accounts receivable												25,839
Prepaid Income Taxes												72
Other current assets												4,201
Property, equipment and leasehold improvements, net												670
Right of use assets												3,443
Other non-current assets												487
Deferred revenue												(21,479)
Other current liabilities												(13,705)
Long-term operating lease liabilities												(2,525)
Intangible assets:
Proprietary data						11 years						229,900
Customer relationships						21 years						179,900
Acquired technology and software						3 years						19,000
Trademarks						1 year						900
Goodwill												617,834
Net assets acquired												$	1,049,934

Schedule of Preliminary Acquired Balances Related to Acquisition

The following table presents the preliminary acquired balances related to the acquisitions of Trove, Fabric and Foxberry:

(in thousands, except weighted average amortization period of intangible asset)						Trove						Fabric						Foxberry
Acquisition Date						November 1, 2023						January 2, 2024						April 16, 2024
Cash payments						$	37,465					$	7,959					$	20,945
Deferred payments						—						—						2,529
Contingent consideration liability						—						8,146						19,094
Aggregate purchase price						$	37,465					$	16,105					$	42,568
Net tangible assets acquired (liabilities assumed)						$	(4,787)					$	(226)					$	1,748
Intangible assets						7,705						11,300						22,500
Goodwill						34,547						5,031						18,320
Aggregate purchase price						$	37,465					$	16,105					$	42,568
Weighted average amortization period of intangible assets (years)						13.0						9.1						7.9

Schedule of Changes in the Company’s Level 3 Financial Liabilities

Changes in the Company’s Level 3 financial liabilities for the three and nine months ended September 30, 2024 and 2023, respectively, were as follows:

						Three Months Ended September 30,												Nine Months Ended September 30,
(in thousands)						2024						2023						2024						2023
Beginning balance						$	27,746					$	—					$	—					$	—
Additions of contingent consideration1						—						—						27,240						—
Change in fair value						448						—						954						—
Payments						—						—						—						—
Ending Balance						$	28,194					$	—					$	28,194					$	—

___________________________

(1)Reflects balance of contingent consideration at acquisition date fair value.

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Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

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Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

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