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Business Combinations | 6 Months Ended
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Jun. 30, 2026
Business Combination [Abstract] |
Business Combinations | Note 2. Business Combinations
Acquisitions of Peach Finance, Inc. and Composer Securities, LLC During the second quarter of 2026, the Company made two acquisitions: Peach, a cloud-native, API-first loan management and servicing platform which the Company intends to integrate within its Technology Platform segment; and Composer, a fintech company offering an AI-powered investing platform that enables users to create, test, and execute investment strategies using everyday language, with which the Company intends to enhance its investing services with under the Financial Services segment. Both of these acquisitions are accounted for as business combinations. As a result, for each of these acquisitions, the respective purchase consideration is allocated to the tangible and intangible assets acquired and liabilities assumed based on the estimated fair values as of the acquisition date. The excess of the total purchase consideration over the fair value of the net assets acquired is allocated to goodwill, which is not expected to be deductible for tax purposes. The fair value estimates are subject to change for up to one year after the acquisition date as additional information becomes available. For both Peach and Composer, we acquired all of the outstanding equity interests for cash consideration, which in the aggregate was approximately $70.1 million. The Company recorded goodwill, equal to the excess of the total purchase consideration over the fair value of the net assets acquired, of $31.5 million in the aggregate, comprising $25.8 million for Peach, which was allocated to our reporting unit within the Technology Platform reportable segment, and $5.7 million for Composer, which was allocated to a reporting unit within the Financial Services reportable segment.

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