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Acquisitions | 9 Months Ended
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Dec. 31, 2015
Business Combinations [Abstract] |
Acquisitions | 3. Acquisitions Purchase of assets from Dining Ventures - Fiscal 2015 On July 3, 2014, Agilysys purchased certain assets from Dining Ventures, Inc. The acquired assets are the base for our rGuest® Seat product, a dining reservations and table management application. The purchase consideration consisted of approximately $3.8 million and was funded with cash on hand. Management concluded that this acquisition was not a material acquisition under the provisions of ASC 805, Business Combinations (ASC 805). The results derived from this purchased asset have been included in our Consolidated Financial Statements from the date of acquisition and did not have a material impact on our condensed consolidated financial statements or related disclosures. The following is a summary of the fair values of the assets acquired in the acquisition:
(In thousands) |
Goodwill | $ | 2,464 |
Developed technology | 1,286 |
Total assets acquired | $ | 3,750 |
The goodwill of approximately $2.5 million arising from the acquisition consists largely of synergies expected from combining the developed technology of Dining Ventures with Agilysys' operations. The goodwill from this acquisition is deductible for tax purposes over a period of 15 years. The following is a summary of the intangible asset acquired and the weighted-average useful life over which it will be amortized.
|  |  | Weighted-average
| Purchased assets |  | useful life
Developed technology | $ | 1,286 |  |  | 5 years
The developed technology acquired from Dining Ventures was determined to be an internal use asset and is therefore carried in fixed assets on the balance sheet and amortized in operating expenses.

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