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Acquisitions (Tables)

12 Months Ended

Dec. 31, 2024

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

The following table summarizes the details of the asset acquisitions:


Asset Acquisition	Acquisition Date	Purchase Price (1) (in thousands)			Weighted Average Amortization Period (in years)
Edgio	December 2024	$	158,247	(2)(3)	9.0
Lumen	October 2023	$	79,682		12.2
StackPath	August 2023	$	51,211		13.4

(1) Includes capitalized transaction costs and a portion of the transition services agreement costs.

(2) Purchase price is estimated and is subject to adjustment for certain post-closing activities expected to be completed in the first quarter of 2025.

(3) As of December 31, 2024, the Company paid the majority of the purchase price in cash to Edgio and expects to pay the remaining consideration, if any, by the end of the first quarter of 2025.

Schedule of Purchase Price Allocation

The preliminary allocation of the purchase price for Noname Security and fair values of the assets acquired and liabilities assumed were as follows (in thousands):


Total purchase consideration	$	452,319

Allocation of the purchase consideration:
Cash	$	18,253
Accounts receivable	5,984
Prepaid expenses and other current assets	3,020


Identifiable intangible assets	137,800
Deferred income tax assets	2,487

Total assets acquired	167,544
Accounts payable	(2,074)
Accrued expenses	(5,926)
Deferred revenue	(19,289)



Total liabilities assumed	(27,289)
Identifiable net assets acquired	140,255
Goodwill	312,064
Total purchase price allocation	$	452,319

The allocation of the purchase price for Linode was as follows (in thousands):


Total purchase consideration	$	898,516

Allocation of the purchase consideration:
Cash	$	26,678
Accounts receivable	7,171
Prepaid expenses and other current assets	4,478
Property and equipment	56,268
Operating lease right-of-use assets	17,000
Identifiable intangible assets	196,020

Deferred income tax assets	2,528
Other assets	292
Total assets acquired	310,435
Accounts payable	(5,767)
Accrued expenses	(1,958)

Operating lease liabilities	(17,235)


Other liabilities	(4,251)
Total liabilities assumed	(29,211)
Net assets acquired	281,224
Goodwill	$	617,292

Schedule of Acquired Intangible Assets

Acquired intangible assets that are subject to amortization consisted of the following as of December 31, 2024 and 2023 (in thousands):


	December 31, 2024						December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Completed technologies	$	463,766	$	(223,480)	$	240,286	$	354,539	$	(196,572)	$	157,967
Customer-related intangible assets	758,817		(313,991)		444,826		616,267		(273,758)		342,509

Trademarks and trade names	15,318		(10,579)		4,739		14,659		(9,117)		5,542
Acquired license rights	44,810		(7,076)		37,734		34,810		(4,685)		30,125
Total	$	1,282,711	$	(555,126)	$	727,585	$	1,020,275	$	(484,132)	$	536,143

Identified intangible assets acquired and their respective weighted average amortization period were as follows (in thousands, except years):


	Gross Carrying Amount		Weighted Average Amortization Period (in years)
Completed technologies	$	132,300	10.5
Customer-related intangible assets	4,800		10.5
Trademarks	700		2.5
Total	$	137,800

Identified intangible assets acquired and their respective weighted average amortization period were as follows (in thousands, except years):


	Gross Carrying Amount		Weighted Average Amortization Period (in years)
Customer-related intangible assets	$	84,200	16.8
Completed technologies	70,900		5.8
Acquired license rights	34,320		15.0
Trademarks and trade name	6,600		8.8

Total	$	196,020