XML 54 R36.htm IDEA: XBRL DOCUMENT
v3.24.0.1

BUSINESS COMBINATIONS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
BUSINESS COMBINATION [Abstract] |
Fair Value of Assets Acquired and Liabilities Assumed | The following table summarizes the final fair value of assets acquired and liabilities assumed:
Cash and cash equivalents |  | $ | 10,437 |
Other current assets |  |  | 50,785 |
Intangible assets |  |  | 270,025 |
Goodwill |  |  | 530,800 |
Other noncurrent assets |  |  | 8,432 |
Total assets acquired |  |  | 870,479 |
Current liabilities |  |  | 66,769 |
Deferred tax liability, net |  |  | 50,493 |
Total liabilities assumed |  |  | 117,262 |
Total purchase consideration |  | $ | 753,217
Intangible Assets and Estimated Useful Lives | The following table presents components of the identified intangible assets acquired and their estimated useful lives as of date of acquisition:
|  |  |  |  | Useful life |
|  | Fair value |  |  | (In years) |
Merchant/Network affiliate relationships (1) |  | $ | 146,547 |  |  |  | 4.5 |
Technology (1) |  |  | 56,548 |  |  |  | 5.0 |
Publisher relationships (2) |  |  | 42,933 |  |  |  | 4.0 |
Tradenames (2) |  |  | 23,997 |  |  |  | 3.0 |
Total Intangible assets acquired |  | $ | 270,025 |  |  |  |  |
___________________________________________
(1) | Fair value was determined by using the income approach.
(2) | Fair value was determined by using the cost approach.
Pro Forma Information | The unaudited pro forma results have been prepared for illustrative purposes only and are not necessarily indicative of what the actual results of operations of the Company and Connexity, combined, would have been due to any synergies, economies of scale and the assembled workforce of Connexity.
|  | Year ended December 31, |
|  | Unaudited |
|  | 2021 |  |  | 2020 |
Revenues |  | $ | 1,433,555 |  |  | $ | 1,258,214 |
Net income (loss) |  | $ | (50,312 | ) |  | $ | (144,146 | )

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-1 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration