On September 1, 2023, the Company acquired 100% of the equity interest of a digital identity solutions company headquartered in New York, for $41.0 million. The acquired company operates under the trade name Infinite ID. The acquisition expands the Company’s network and portfolio of identity solutions in the United States. The acquired company was determined to constitute a business and the Company was deemed to be the acquirer under ASC 805. As a result, the Company has recorded the related purchase accounting as of September 1, 2023.

The allocation of the purchase price is based on the fair value of assets acquired and liabilities assumed as of the acquisition date. The following table summarizes the consideration paid and the amounts recognized for the assets acquired and liabilities assumed (in thousands):


Consideration
Cash purchase price	$	41,000
Other transaction adjustments		122
Total fair value of consideration transferred	$	41,122
Current assets	$	1,368
Property and equipment, including software developed for internal use		5,959
Customer lists		6,500
Other assets		236
Total liabilities		(1,041	)
Total identifiable net assets	$	13,022
Goodwill	$	28,100

Goodwill recognized is not expected to be deductible for tax purposes. Results of operation have been included in the condensed consolidated financial statements of the Company’s Americas segment since the date of acquisition.

As of the date these condensed consolidated financial statements were issued, the purchase accounting related to this acquisition was incomplete as the valuation of certain working capital balances, intangible assets, deferred taxes, and certain customary transaction adjustments were not yet finalized. The Company has reflected the provisional amounts in these condensed consolidated financial statements. As such, the above balances may be adjusted in a future period as the valuation is finalized and these adjustments may be material to the condensed consolidated financial statements.