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Business Combinations (Tables) | 3 Months Ended
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Dec. 31, 2020
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 payment | 43,381 |
Final post closing adjustment | 310 |
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 reportable segment and the portion of such goodwill balance that is deductible for tax purposes is $20,257. Additionally, we identified and valued 99designs intangible assets which include their trade name, designer network, and developed technology. Our preliminary estimate of the fair value of specifically identifiable assets acquired and liabilities assumed as of the date of acquisition is subject to change upon finalizing our valuation analysis, including certain valuation assumptions and tax matters. The final determination may result in changes in the fair value of certain assets and liabilities as compared to our preliminary estimates, which are expected to be finalized prior to the end of fiscal 2021. The fair value of the assets acquired and liabilities assumed was:
|  | Amount |  | Weighted Average Useful Life in Years
Tangible assets acquired and liabilities assumed: |  |  |  |
Cash and cash equivalents |  | $ | 8,603 |  |  | n/a
Accounts receivable, net |  | 494 |  |  | n/a
Prepaid expenses and other current assets |  | 1,167 |  |  | n/a
Property, plant and equipment, net |  | 73 |  |  | n/a
Other assets |  | 142 |  |  | n/a
Accounts payable |  | (220) |  |  | n/a
Accrued expenses |  | (6,679) |  |  | n/a
Deferred revenue |  | (5,806) |  |  | n/a
Other liabilities |  | (1,234) |  |  | n/a
Identifiable intangible assets |  |  |  |
Trade name |  | 1,550 |  |  | 2 years
Developed technology |  | 13,400 |  |  | 3 years
Designer network |  | 5,800 |  |  | 7 years
Goodwill |  | 71,401 |  |  | n/a
Total purchase price |  | $ | 88,691 |  |  | n/a

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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