2. Acquisitions

The cash paid, net of cash received related to the Company's various acquisitions during the six months ended December 31, 2016, are summarized in the table below:


		2016
C4U-Malta Limited ("C4U Malta")	$	2,940
Pros Software (Pty) Ltd ("Pros Software")		1,711
Total cash paid, net of cash received	$	4,651

C4U Malta

In November 2016, the Company acquired a 100% interest in C4U Malta, a licensed Maltese Financial Services Authority-supervised electronic money institution, for approximately $3.9 million (€3.6 million translated at the foreign exchange rates applicable on the date of acquisition). C4U's license has been passported across all member states of the European Union. The Company intends to apply for a principal membership with the major card associations as soon as possible and to integrate a robust and reliable issuing and acquiring processing platform in C4U to enable the issuance of electronic money instruments, such as electronic money accounts, prepaid cards and virtual cards, after a transitional period of integration and technology adaption. The Company plans to build and reinforce C4U such that it operates as its principal regulated electronic money institution with the ability to cover all of the Company's financial services activities and business in the European Union.

Pros Software

In October 2016, the Company acquired a 100% interest in Pros Software, a software development and consulting services company based near Johannesburg, South Africa, for ZAR 25.0 million ($1.8 million, translated at the foreign exchange rates applicable on the date of acquisition). Pros Software performs software development and consulting services for a number of clients, including for the Company, and has a specialty practice in business intelligence.

The preliminary purchase price allocation of C4U Malta and Pros Software acquisitions, translated at the foreign exchange rates applicable on the date of acquisition, is provided in the table below:

		C4U Malta			Pros Software			Total
Cash and cash equivalents	$	999		$	110		$	1,109
Accounts receivable		983			165			1,148
Property, plant and equipment, net		30			9			39
Deferred tax assets		-			-			-
Intangible assets (Note 7)		1,078			2,311			3,389
Goodwill (Note 7)		2,475			-			2,475
Accounts payables and other payables		(1,570	)		(58	)		(1,628	)
Income taxes payable		-			(69	)		(69	)
Deferred tax liabilities		(56	)		(647	)		(703	)
Total purchase price	$	3,939		$	1,821		$	5,760

The preliminary purchase price allocations are based on management estimates as of December 31, 2016, and may be adjusted up to one year following the closing of the acquisition. The Company expects to finalize the purchase price allocation on or before June 30, 2017. Pro forma results of operations have not been presented because the effect of the C4U Malta and Pros Software acquisitions, individually and in the aggregate, were not material to the Company. During the six months ended December 31, 2016, the Company incurred acquisition-related expenditure of $0.2 million related to these acquisitions. Since the closing of the C4U Malta acquisition on November 1, 2016, it has contributed revenue and a net loss after acquired intangible asset amortization, net of taxation, of $0.1 million and $0.2 million, respectively. Since the closing of the Pros Software acquisition on October 1, 2016, it has contributed revenue and a net loss after acquired intangible asset amortization, net of taxation, of $0.2 million and $0.6 million, respectively.