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Subsequent Events | 3 Months Ended
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Feb. 28, 2017
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events On March 1, 2017, we acquired 100% of the outstanding securities of DataRPM Corporation (DataRPM) for an aggregate sum of $30.0 million. Approximately $1.7 million of the purchase price was paid to DataRPM’s founders in the form of restricted stock units, subject to a two year vesting schedule and continued employment. DataRPM is a privately-held company and leader in cognitive predictive maintenance for the industrial IoT (IIoT) market. This acquisition is a key part of the Company's strategy to provide the best platform to build and deliver cognitive-first applications. As a result of the timing of the transaction, the initial accounting for the business combination was incomplete through the date our condensed consolidated financial statements were issued. Results of operations for DataRPM will be included in our consolidated financial statements as part of the OpenEdge business segment from the date of acquisition. On March 24, 2017, Paul Jalbert, the Company’s Chief Accounting Officer, became Chief Financial Officer. As CFO, Mr. Jalbert replaced Kurt Abkemeier, whose employment terminated on the same date.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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