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Goodwill | 3 Months Ended
--- | ---
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill | Goodwill
| March 31, 2024 | December 31, 2023
| (in thousands)
Opening balance | $ | 9,022,075 |  | $ | 8,971,670 |
Current period acquisition | 2,732 |  | 36,750 |
Foreign exchange movement | (6,506) |  | 13,655 |
Closing balance | $ | 9,018,301 |  | $ | 9,022,075 |
On January 9, 2024, the Company acquired HumanFirst Inc. ("HumanFirst"), a life sciences technology company in exchange for consideration of $13.3 million. The net cash outflow was $7.8 million comprising initial cash payments of $11.8 million net of cash acquired of $4.0 million. $1.5 million of deferred consideration remains unpaid as of March 31, 2024. The purchase price allocation, as of the date of acquisition, was based on a preliminary valuation and may be subject to revision. Preliminarily, the HumanFirst acquisition resulted in the initial recognition of goodwill of $2.7 million and a developed technology intangible asset of $9.9 million. Preliminary goodwill arising in connection with the acquisition is primarily attributable to the assembled workforce of Humanfirst. The intangible asset will be amortized over its useful life of 5 years and in total, $0.5 million has been amortized in the period since the date of acquisition. There were no impairment charges for the three months ended March 31, 2024 or the year ended December 31, 2023.

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