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ACQUISITIONS: | 9 Months Ended
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Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract] |
ACQUISITIONS: | ACQUISITIONS: Rakam On December 13, 2021, the Company completed the acquisition of certain technology assets owned by Rakam, Inc. ("Rakam") for approximately $2.2 million in cash (including a holdback amount of $0.2 million included in other accrued expenses in the condensed consolidated balance sheet - see Note 8). The technology asset is a cloud-agnostic customer data analytics platform that is deployed direct in the client's data warehouse. The purchased technology will be embedded into the Company's platform, enabling us to provide a single, unified segmentation solution and enable our clients to generate real-time insights and create custom audiences wherever their data resides. The Company concluded the acquired assets did not meet the definition of a business under ASU 2017-01, "Clarifying the Definition of a Business", and therefore has accounted for the acquisition as an asset acquisition. The purchased asset was recorded as a $2.2 million developed technology intangible asset included in other assets, net in the condensed consolidated balance sheet and will be amortized over a period of three years based on its estimated useful life. In connection with acquisition, the Company extended employment agreements and granted $2.6 million of restricted stock units to two key Rakam employees (see Note 6). The restricted stock units will vest over four years and are not considered part of the asset purchase price as they require future service and continued employment by those individuals to vest. Diablo On April 21, 2021, the Company completed the acquisition of Diablo.ai, Inc. ("Diablo"), a first-party data resolution platform and graph builder, for approximately $9.7 million in cash (including a holdback amount of $1.2 million included in other accrued expenses in the condensed consolidated balance sheet - see Note 8). The acquisition also included $1.9 million of assumed restricted stock awards that will be recorded as non-cash stock compensation over a period of three years (see Note 6). Diablo's technology will be embedded into our unified platform and will play an integral role in our global identity capability. The Company has omitted pro forma disclosures related to this acquisition as the pro forma effect of this acquisition is not material. The results of operations for this acquisition are included in the Company's condensed consolidated results beginning April 21, 2021. The following table summarizes the fair value of assets acquired and liabilities assumed as of the date of acquisition (dollars in thousands):
|  | April 21, 2021
Assets acquired: |  |
Cash |  | $ | 131 |
Goodwill |  | 7,012 |
Intangible assets |  | 3,500 |
Total assets acquired |  | 10,643 |
Deferred income taxes |  | (710) |
Accounts payable and accrued expenses |  | (65) |
Net assets acquired |  | 9,868 |
Less: |  |
Cash acquired |  | (131) |
Net purchase price allocated |  | 9,737 |
Less: |  |
Cash held back |  | (1,200) |
Net cash paid in acquisition |  | 8,537 |
The excess of purchase consideration over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill and is primarily attributed to the development of future technology and products. The fair values currently assigned to tangible and identifiable intangible assets acquired and liabilities assumed were based on the information that was available as of the date of the acquisition. The Company expects to finalize the valuation as soon as practical.

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- References No definition available. + Details
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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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