Business Combinations (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Preliminary Allocation of Purchase Price to Estimated Fair Value of Assets Acquired and Liabilities Assumed


Consideration:
Cash	$	130,865
Deferred cash consideration	6,917
Fair value of total consideration transferred	$	137,782

Recognized amount of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents	5,039
Operating lease right-of-use assets	3,320
Other assets	2,206
Deferred revenue	(4,779)
Operating lease liabilities	(3,297)
Other liabilities	(1,642)
Intangible assets	21,200
Total identifiable net assets assumed	22,047
Goodwill	115,735
Net purchase price	$	137,782

Summary of Estimated Fair Value and Useful Life of Identifiable Intangible Assets

The fair value of identifiable intangible assets was based on valuations using the income approach. The estimated fair value and useful life of identifiable intangible assets are as follows:


	Amount		Weighted Average Amortization Life
	(in thousands)		(in years)
Developed technology	$	18,600	6
Customer relationships	1,700		6
Trade name	900		5
Total identifiable intangible assets	$	21,200

Business Acquisition, Pro Forma Information

The unaudited pro forma financial information in the table below summarizes the combined results of our operations and DivvyCloud, on a pro forma basis, as though we had acquired DivvyCloud on January 1, 2019. The unaudited pro forma financial information for all periods presented also includes the effects of business combination accounting resulting from the acquisition, including an adjustment to revenue for the deferred revenue fair value adjustment, amortization expense from acquired intangibles assets, reversal of acquisition-related expenses and the stock-compensation expense recorded to retain certain employees.


	Year Ended December 31,
	2020		2019
	(in thousands)
Revenue	$	416,999	$	332,392
Net loss	$	(102,766)	$	(78,258)