v3.19.2

BUSINESS COMBINATION (Tables)

6 Months Ended

Jun. 30, 2019

Business Combinations [Abstract]

Schedule of Operation of Acquired Entity

The amounts of revenue and net loss of SMRE included in the Company’s condensed consolidated statements of operations for the three and six months ended June 30, 2019 (unaudited):

		Three months ended				Six months ended
		June 30, 2019
		Unaudited
Revenue		$	5,348			$	8,250
Net loss		$	5,388			$	7,267

Schedule of Preliminary Estimated Components and Allocations of Combined Purchase Prices

The following table summarizes the preliminary estimated purchase price allocation of the business combination completed during the six months ended June 30, 2019 (unaudited):

Components of Purchase Price:
Cash		$	42,240
Less cash acquired			(3,805	)
Common stock			34,601
Total purchase price		$	73,036
Allocation of Purchase Price:
Total net identifiable assets		$	7,947
Total identifiable intangible assets, net and Goodwill (1)			132,822
Non-controlling interest		$	(67,733	)
Total purchase price allocation (2)		$	73,036

(1) The intangible assets consist primarily of technology, trade name and customer relationships.

(2) The Company expects to complete the preliminary estimated purchase price allocation during the measurement period of one year from January 24, 2019. Fair values that are still under review include, among others, values assigned to identifiable intangible assets, goodwill, deferred income taxes and contingent liabilities.

Schedule of Pro-forma Condensed Consolidated Statements of Operations

The following table represents the pro-forma (unaudited) condensed consolidated statements of operations as if all acquisitions completed during the year ended December 31, 2018 and the six months ended June 30, 2019 (unaudited), had been included in the condensed consolidated statements of operations of the Company for the three and six months ended June 30, 2019 (unaudited) and 2018 (unaudited):

		Three months ended June 30,								Six months ended June 30,
		2019				2018				2019				2018
		Unaudited								Unaudited
Revenue		$	325,010			$	248,541			$	597,953			$	480,325
Net income		$	32,913			$	27,009			$	49,523			$	55,663

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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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.

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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.

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