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BUSINESS ACQUISITION (Tables) | 6 Months Ended
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Jun. 30, 2019
Business Combinations [Abstract] |
Schedule of purchase price allocation | The acquisition has been accounted for as a business combination. The preliminary allocation of purchase price to the assets acquired and liabilities assumed is as follows (in thousands):
| Preliminary Fair Value
Net working capital | $ | 2,796 |
Fixed assets | 68 |
Intangible assets | 31,600 |
Goodwill | 71,444 |
Net noncurrent assets | 324 |
Total purchase price | $ | 106,232 |
The acquisition has been accounted for as a business combination. The preliminary allocation of purchase price to the assets acquired and liabilities assumed is as follows (in thousands):
| Preliminary Fair Value
Net working capital | $ | 8,381 |
Fixed assets | 1,509 |
Intangible assets | 120,400 |
Goodwill | 183,036 |
Other noncurrent assets | 29 |
Total purchase price | $ | 313,355 |
In the second quarter of 2019, the Company completed the determination of the final allocation of purchase price to the assets acquired and liabilities assumed as follows (in thousands):
| Fair Value
Net working capital | $ | 303 |
Fixed assets | 76 |
Intangible assets | 8,900 |
Goodwill | 11,280 |
Net deferred tax liabilities | (2,688 | )
Total purchase price | $ | 17,871 |
Schedule of the fair value of definite lived intangible assets acquired | The fair value of the intangible assets with definite lives are as follows (dollars in thousands):
| Preliminary Fair Value | Weighted Average Amortization Life
Technology | $ | 68,900 |  | 4 years
Customer lists | 42,700 |  | 14.7 years
Content | 1,000 |  | 3 years
Trademarks and tradenames | 7,800 |  | 5 years
Total intangible assets | $ | 120,400 |  | 7.9 years
The fair value of the intangible assets with definite lives are as follows (dollars in thousands):
| Preliminary Fair Value | Weighted Average Amortization Life
Technology | $ | 4,200 |  | 3 years
Content | 26,100 |  | 3 years
Trademarks and tradenames | 1,300 |  | 5 years
Total intangible assets | $ | 31,600 |  | 3.1 years
The fair value of the intangible assets with definite lives are as follows (dollars in thousands):
| Fair Value | Weighted Average Amortization Life
Technology | $ | 6,000 |  | 7 years
Customer lists | 1,900 |  | 1 year
Trademarks and tradenames | 1,000 |  | 4 years
Total intangible assets | $ | 8,900 |  | 5.4 years
Unaudited pro forma revenue and net income from continuing operations of business acquisitions |
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2018 |  | 2019 |  | 2018
| (in thousands)
Pro forma revenue | $ | 234,264 |  |  | $ | 541,326 |  |  | $ | 464,148 |
Pro forma net income from continuing operations | $ | 44,314 |  |  | $ | 13,250 |  |  | $ | 79,902 |
| Three Months Ended June 30, 2018 |  | Six Months Ended June 30, 2018
| (in thousands)
Pro forma revenue | $ | 221,839 |  |  | $ | 440,596 |
Pro forma net income from continuing operations | $ | 42,813 |  |  | $ | 78,413 |

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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
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