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Business Combinations (Tables)
 3 Months Ended
Jun. 30, 2021
Business Combinations [Abstract]  
Schedule of Business Acquisitions, by Acquisition [Table Text Block]
The table below details the consideration transferred to acquire 99designs:

Cash consideration (paid at closing)$45,000 
Fair value of deferred payment43,381 
Final post closing adjustment310 
Total purchase price$88,691 
    
We recognized the assets and liabilities on the basis of their fair values at the date of the acquisition with any excess of the purchase price paid over the fair value of the net assets recorded as goodwill, which is primarily attributable to the synergies that we expect to achieve through the acquisition. The goodwill balance has been attributed to the Vistaprint reporting unit and a portion of such goodwill balance is deductible for tax purposes. Additionally, we identified and valued 99designs intangible assets which include their trade name, designer network, and developed technology.
The fair value of the assets acquired and liabilities assumed was:
AmountWeighted Average Useful Life in Years
Tangible assets acquired and liabilities assumed:
Cash and cash equivalents$8,603 n/a
Accounts receivable, net494 n/a
Prepaid expenses and other current assets787 n/a
Property, plant and equipment, net73 n/a
Other assets142 n/a
Accounts payable(220)n/a
Accrued expenses(6,299)n/a
Deferred revenue(5,806)n/a
Other liabilities(625)n/a
Identifiable intangible assets:
    Trade name1,550 2 years
    Developed technology13,400 3 years
    Designer network5,800 7 years
Goodwill70,792 n/a
Total purchase price$88,691 n/a