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BUSINESS COMBINATION (Tables) | 3 Months Ended
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Mar. 31, 2021
Business Combinations [Abstract] |
Summary of consideration transferred for business acquisition | The acquisition date fair value of the purchase price was approximately $35.5 million, which consisted of the following (in thousands):
Cash consideration |  | $ | 31,988 |
Fair value of contingent consideration |  | 3,500 |
Total |  | $ | 35,488 |
Summary of fair values of assets acquired and liabilities assumed | The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the acquisition date, which are subject to change within the measurement period as the fair value assessments are finalized (in thousands):
Net tangible assets acquired |  | $ | 1,441 |
Intangible assets |  | 9,200 |
Deferred tax asset |  | 457 |
Goodwill |  | 24,390 |
Net assets acquired |  | $ | 35,488 |
The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the acquisition date, which are subject to change within the measurement period as the fair value assessments are finalized (in thousands):
Net tangible assets acquired |  | $ | 1,541 |
Intangible assets |  | 11,700 |
Goodwill |  | 11,544 |
Net assets acquired |  | $ | 24,785 |
Summary of intangible assets acquired | The following table shows the fair value of the separately identifiable intangible assets at the time of acquisition and the period over which each intangible asset will be amortized:
|  | Preliminary Fair Value |  | Useful Life
|  | (In thousands) |  | (Years)
Developed technology |  | $ | 6,900 |  |  | 5
Customer relationship |  | 1,800 |  |  | 5
Trade Name |  | 500 |  |  | 5
Total identifiable intangible assets |  | $ | 9,200 |  |  |
The following table shows the fair value of the separately identifiable intangible assets at the time of acquisition and the period over which each intangible asset will be amortized:
|  | Preliminary Fair Value |  | Useful Life
|  | (In thousands) |  | (Years)
Customer relationship |  | $ | 11,700 |  |  | 5

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472 + Details
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