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Acquisitions | 3 Months Ended
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Mar. 31, 2021
Business Combinations [Abstract] |
Acquisitions | Acquisitions On March 31, 2021, we acquired all the equity interest of Glass Arc, Inc. (dba ReadySub). Readysub is a cloud-based platform that assists school districts with absence tracking, filling substitute teacher assignments, and automating essential payroll processes. The total purchase price was approximately $6.3 million, net of cash acquired, of which $6.2 million was paid in cash and approximately $98,000 was accrued for a working capital holdback subject to certain post-closing adjustments. On March 31, 2021, we acquired substantially all assets of DataSpec, Inc. ("DataSpec"), a provider of a software-as-a-service (SaaS) solution that allows for secure electronic claims submission to the federal Department of Veterans Affairs (VA) and reporting capabilities, in addition to scheduling, calendaring, and payments. The total purchase price was approximately $5.9 million of which $5.8 million was paid in cash and approximately $63,000 was accrued for a working capital holdback, subject to certain post-closing adjustments. Our balance sheet as of March 31, 2021, reflects the allocation of the purchase price to the assets acquired based on their fair value at the date of each acquisition, subject to post closing adjustments. The fair value of the assets acquired and liabilities assumed are based on valuations using Level III, unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The operating results for ReadySub and DataSpec are included in the ES segment.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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