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Acquisitions (Tables)

9 Months Ended

Sep. 30, 2021

Business Combinations [Abstract]

Schedule of Business Acquisitions

(In thousands)
Purchase price			$	96,992
Reduction in:
Non-controlling interest1			(13,077)
Accumulated other comprehensive income			(2,284)
Additional paid-in capital			(81,631)

1 Reduces non-controlling interest to zero as of the acquisition date.

The following is a summary of the preliminary allocation of the purchase price to the assets and liabilities acquired, based on the fair value at the date of acquisition:

(In thousands)						As Reported December 31, 2020						Measurement Period Adjustments						As Reported September 30, 2021
Cash consideration transferred, net of $232,155 in cash and restricted cash acquired						$	383,204					$	119					$	383,323
Less: legal settlement						(162,500)						—						(162,500)
Total consideration, net						$	220,704					$	119					$	220,823
Less:
Accounts receivable						14,449						—						14,449
Property and equipment						876						—						876
Customer relationships(a)(c)						79,923						(32,323)						47,600
Developed technologies(b)(c)						63,125						(56,825)						6,300
License agreements						4,208						(4,208)						—
Deferred income tax asset						9,424						(410)						9,014
Other assets						16,605						—						16,605
Accounts payable						(16,244)						—						(16,244)
Accrued expenses						(21,898)						—						(21,898)
Restricted cash payable						(186,956)						—						(186,956)
Deferred income tax liability						(20,152)						13,053						(7,099)
Other liabilities						(14,540)						3,552						(10,988)
Recorded goodwill						$	291,884					$	77,280					$	369,164

(a) Weighted average life - 7.3 years.

(b) Weighted average life - 0.5 years.

(c) The weighted average life of the $53.9 million of amortizable intangible assets acquired in this business combination is 6.5 years.

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following is a summary of the preliminary allocation of the purchase price to the assets and liabilities acquired, based on the estimated fair value at the date of acquisition:

(In thousands)						As Initially Reported						Measurement Period Adjustments						As Reported September 30, 2021
Cash consideration transferred, net of $15.0 million in cash and restricted cash acquired						$	259,087					$	(26)					$	259,061
Less:
Accounts receivable						3,103						—						3,103
Customer relationships(a)(d)						86,100						(1,700)						84,400
Developed technologies(b)(d)						19,600						—						19,600
Non-compete(c)(d)						—						2,150						2,150
Other assets						4,387						—						4,387
Accrued expenses						(3,498)						—						(3,498)
Restricted cash payable						(14,328)						—						(14,328)
Other liabilities						(5,177)						—						(5,177)
Recorded goodwill						$	168,900					$	(476)					$	168,424

(a) Weighted average life - 9.3 years.

(b) Weighted average life - 3.6 years.

(c) Weighted average life - 2.5 years

(d) The weighted average life of the $106.2 million of amortizable intangible assets acquired in this business combination is 8.1 years

Business Acquisition, Pro Forma Information

The following represents unaudited pro forma operational results:

(In thousands, except per share data)			Three Months Ended September 30, 2020						Nine Months Ended September 30, 2020
Total revenues			$	398,811					$	1,202,591
Net loss attributable to shareholders			$	(68,822)					$	(16,537)
Net loss attributable to shareholders per share:
Basic			$	(1.56)					$	(0.38)
Diluted			$	(1.56)					$	(0.38)

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

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