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ACQUISITIONS
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
ACQUISITIONS ACQUISITIONS
2025
Edulink
On December 2, 2025, we acquired Edu.Link, Inc. (“Edulink”). Edulink is a SaaS company focused on educator evaluation, performance management, professional development, and compliance tracking geared specifically to the unique needs of K-12 schools. The total cash purchase price, net of cash acquired of $716,000, was approximately $37.3 million, subject to certain post-closing adjustments, including holdbacks of $2.5 million.
We have performed a preliminary valuation analysis of the fair market value of Edulink’s assets and liabilities. In connection with this transaction, we acquired total tangible assets of $2.5 million and assumed liabilities of approximately $6.6 million. We recorded goodwill of approximately $24.7 million, which is deductible for tax purposes, and other identifiable intangible assets of approximately $17.4 million.
CloudGavel
On November 19, 2025, we acquired CloudGavel, LLC (“CG”). CG is a SaaS company specializing in cloud electronic warrant solutions that allows for real time interaction for judges and law enforcement personnel. The total cash purchase price, net of cash acquired of $147,000, was approximately $16.6 million, subject to certain post-closing adjustments, including holdbacks of $2.9 million.
We have performed a preliminary valuation analysis of the fair market value of CG’s assets and liabilities. In connection with this transaction, we acquired total tangible assets of $0.9 million and assumed liabilities of approximately $0.9 million. We recorded goodwill of approximately $10.6 million, which is not deductible for tax purposes, and other identifiable intangible assets of approximately $7.6 million. We recorded net deferred tax liabilities of $1.6 million related to the tax effect of our estimated fair value allocations.
Emergency Networking
On July 28, 2025, we acquired Emergency Networking, Inc. (“EN”). EN is a SaaS company specializing in cloud-native software for fire departments and emergency medical services agencies. The total cash purchase price, net of cash acquired of $497,000, was approximately $19.4 million, subject to certain post-closing adjustments, including holdbacks of $2.5 million.
We have performed a preliminary valuation analysis of the fair market value of EN’s assets and liabilities. In connection with this transaction, we acquired total tangible assets of $1.6 million and assumed liabilities of approximately $1.3 million. We recorded goodwill of approximately $12.6 million, which is not deductible for tax purposes, and other identifiable intangible assets of approximately $9.1 million. We recorded net deferred tax liabilities of $2.1 million related to the tax effect of our estimated fair value allocations.
MyGov
On January 31, 2025, we acquired MyGov, LLC (“MyGov”), a provider of SaaS platform solutions for community development. The total cash purchase price, net of cash acquired of $215,000, was approximately $18.2 million.
We have performed a preliminary valuation analysis of the fair market value of MyGov’s assets and liabilities. In connection with this transaction, we acquired total tangible assets of $0.7 million and assumed liabilities of approximately $1.1 million. We recorded goodwill of approximately $10.4 million, which is expected to be deductible for tax purposes, and other identifiable intangible assets of approximately $8.5 million.
As of December 31, 2025, the purchase price allocations for Edulink, CG, MyGov and EN are not final; therefore, certain preliminary valuation estimates of fair value assumed at the acquisition date for intangible assets and receivables are subject to change as valuations are finalized. Our balance sheet as of December 31, 2025, reflects the allocation of the purchase price to the net assets acquired based on their estimated fair value at the date of the acquisition. The fair value of the assets and liabilities acquired are based on valuations using Level 3 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 actual operating results of Edulink,CG, EN, and MyGov, from their respective dates of acquisition, are included in the operating results of the ES segment. Also, the impact of these acquisitions on our operating results, assets, and liabilities is not material, individually or in the aggregate.
During the twelve months ended December 31, 2025, we paid $7.7 million in cash for long-term indemnity holdbacks related to prior acquisitions.
In the twelve months ended December 31, 2025, we incurred fees of approximately $714,000 for financial advisory, legal, accounting, due diligence, valuation, and other various services necessary to complete acquisitions. These costs were expensed in 2025 and are included in general and administrative expense in the accompanying consolidated statements of income.
2024
We did not complete any acquisitions during twelve months ended December 31, 2024.
In 2024, the Company settled certain fully indemnified matters related to two acquisitions completed in prior years resulting in the reimbursement of shares of our common stock from escrow for $10.4 million.
In 2024, we also paid $1.4 million in cash for holdbacks related to other acquisitions completed in 2023.