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ACQUISITIONS AND DIVESTITURES (Tables) | 12 Months Ended
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Nov. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Business Acquisitions by Acquisition, Contingent Consideration | The purchase price consideration to acquire Webhelp consisted of the following:
Cash consideration for Shares (1) | $ | 529,160 |
Cash consideration for repayment of Webhelp debt and shareholder loan (2) | 1,915,197 |
Total cash consideration | 2,444,357 |
Equity consideration (3) | 1,084,894 |
Earnout shares contingent consideration (4) | 32,919 |
Sellers’ note consideration (5) | 711,830 |
Total consideration transferred | 4,274,000 |
Less: Cash and restricted cash acquired (6) | (499,211) |
Total purchase price consideration | $ | 3,774,789 |
(1) Represents the cash consideration paid, and to be paid, in the aggregate amount of €500,000, as adjusted in accordance with the SPA. (2) Represents the cash consideration paid to repay Webhelp’s outstanding senior loan debt and shareholder loan. (3) Represents the issuance of 14,862 shares of Concentrix common stock. (4) Represents the contingent right for the Sellers to earn an additional 750 shares of Concentrix common stock (the “Earnout Shares”). The estimated fair value of this contingent consideration was determined using a Monte-Carlo simulation model. The inputs include the closing price of Concentrix common stock as of the Closing Date (as defined below), Concentrix-specific historical equity volatility, and the risk-free rate. See further details below. (5) Represents a promissory note issued by Concentrix Corporation in the aggregate principal amount of €700,000 to certain Sellers. See Note 9—Borrowings for a further discussion of this promissory note. (6) Represents the Webhelp cash and restricted cash balance acquired at the Closing Date. The purchase price consideration to acquire PK consisted of the following:
Cash consideration for PK stock (1) | $ | 1,177,342 |
Cash consideration for PK vested equity awards (2) | 246,229 |
Cash consideration for repayment of PK debt, including accrued interest (3) | 148,492 |
Cash consideration for transaction expenses of PK (4) | 22,842 |
Total cash consideration | 1,594,905 |
Non-cash equity consideration for conversion of PK equity awards (5) | 15,725 |
Total consideration transferred | 1,610,630 |
Less: Cash and restricted cash acquired (6) | 37,310 |
Total purchase price consideration | $ | 1,573,320 |
(1) Represents the cash consideration paid for the outstanding shares of PK common stock, which includes the final settlement of the merger consideration adjustment paid pursuant to the merger agreement. (2) Represents the cash consideration paid for certain vested PK stock option awards and restricted stock unit awards. (3) Represents the cash consideration paid to retire PK’s outstanding third-party debt, including accrued interest. (4) Represents the cash consideration paid for expenses incurred by PK in connection with the merger and paid by Concentrix pursuant to the merger agreement. These expenses primarily related to third-party consulting services. (5) Represents the issuance of vested Concentrix stock options that were issued in conversion of certain vested PK stock options that were assumed by Concentrix pursuant to the merger agreement. (6) Represents the PK cash and restricted cash balance acquired at the acquisition. The purchase price consideration to acquire ServiceSource consisted of the following:
Cash consideration for ServiceSource stock (1) | $ | 150,392 |
Cash consideration for ServiceSource vested and unvested equity awards (2) | 6,704 |
Cash consideration for repayment of ServiceSource debt, including accrued interest (3) | 10,063 |
Total consideration transferred | 167,159 |
Less: Cash and restricted cash acquired (4) | 25,652 |
Total purchase price consideration | $ | 141,507 |
(1) Represents the cash consideration paid for the outstanding shares of ServiceSource common stock. (2) Represents the cash consideration paid or to be paid for vested and unvested ServiceSource stock option awards, restricted stock units and performance stock units. (3) Represents the cash consideration paid to retire ServiceSource’s outstanding third-party debt, including accrued interest. (4) Represents the ServiceSource cash and restricted cash balance acquired at the acquisition.
Schedule of Business Acquisitions, by Acquisition | The following table summarizes the final fair values of the assets acquired and liabilities assumed as of the acquisition date:
| As of
| September 25, 2023
Assets acquired: |
Cash and cash equivalents | $ | 310,313 |
Accounts receivable | 449,152 |
Other current assets (1) | 450,079 |
Property and equipment | 324,007 |
Identifiable intangible assets | 1,984,000 |
Goodwill | 2,145,974 |
Deferred tax assets | 20,735 |
Other assets | 409,268 |
Total assets acquired | 6,093,528 |
Liabilities assumed: |
Accounts payable | 67,983 |
Accrued compensation and benefits | 259,548 |
Other accrued liabilities | 573,906 |
Income taxes payable | 75,075 |
Debt (current portion and long-term) | 8,589 |
Deferred tax liabilities | 410,481 |
Other long-term liabilities | 423,946 |
Total liabilities assumed | 1,819,528 |
Total consideration transferred | $ | 4,274,000 |
(1) Includes restricted cash acquired of $188,898. The following table summarizes the final fair values of the assets acquired, liabilities assumed and non-controlling interest as of the acquisition date:
| As of
| December 27, 2021
Assets acquired: |
Cash and cash equivalents | $ | 30,798 |
Accounts receivable | 85,367 |
Property and equipment | 11,158 |
Operating lease right-of-use assets | 12,288 |
Identifiable intangible assets | 469,300 |
Goodwill | 1,119,068 |
Other assets | 26,449 |
Total assets acquired | 1,754,428 |
Liabilities assumed and non-controlling interest: |
Accounts payable and accrued liabilities | 78,092 |
Operating lease liabilities | 12,288 |
Deferred tax liabilities | 51,418 |
Non-controlling interest | 2,000 |
Total liabilities assumed and non-controlling interest | 143,798 |
Total consideration transferred | $ | 1,610,630 |
The following table summarizes the final fair values of the assets acquired and liabilities assumed as of the acquisition date:
| As of
| July 20, 2022
Assets acquired: |
Cash and cash equivalents | $ | 24,355 |
Accounts receivable | 40,097 |
Property and equipment | 8,112 |
Operating lease right-of-use assets | 29,487 |
Identifiable intangible assets | 40,200 |
Goodwill | 34,910 |
Net deferred tax assets | 32,701 |
Other assets | 19,649 |
Total assets acquired | 229,511 |
Liabilities assumed: |
Accounts payable and accrued liabilities | 32,865 |
Operating lease liabilities | 29,487 |
Total liabilities assumed | 62,352 |
Total consideration transferred | $ | 167,159 |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class | The amounts allocated to intangible assets are as follows:
| Gross Carrying Amount |  | Weighted-Average Useful Life |  | Amortization Method
Customer relationships | $ | 1,882,000 |  |  | 15 years |  | Accelerated
Trade name | 102,000 |  |  | 3 years |  | Straight-line
Total | $ | 1,984,000 |  |  |  |  |
The amounts allocated to intangible assets are as follows:
| Gross Carrying Amount |  | Weighted-Average Useful Life |  | Acceleration Method
Customer relationships | $ | 398,600 |  |  | 15 years |  | Accelerated
Technology | 63,500 |  |  | 5 years |  | Straight-line
Trade name | 5,000 |  |  | 3 years |  | Straight-line
Non-compete agreements | 2,200 |  |  | 3 years |  | Straight-line
Total | $ | 469,300 |  |  |  |  |
The amounts allocated to intangible assets are as follows:
| Gross Carrying Amount |  | Weighted-Average Useful Life |  | Acceleration Method
Customer relationships | $ | 31,370 |  |  | 15 years |  | Accelerated
Technology | 5,640 |  |  | 5 years |  | Straight-line
Trade name | 3,190 |  |  | 3 years |  | Straight-line
Total | $ | 40,200 |  |  |  |  |
Business Acquisition, Pro Forma Information |
| Fiscal Years Ended November 30,
| 2023 |  | 2022
Revenue | $ | 9,485,600 |  |  | $ | 8,919,195 |
Net income | 177,611 |  |  | 238,242 |

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- 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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 + Details
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- Definition Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments. + References No definition available. + Details
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