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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

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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
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-Topic 805
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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

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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.

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