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MARTINO & PARTNERS ACQUISITION | 9 Months Ended
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Sep. 30, 2025
MARTINO & PARTNERS ACQUISITION |
MARTINO & PARTNERS ACQUISITION | NOTE 4—MARTINO & PARTNERS ACQUISITION On September 1, 2025, the Company completed the acquisition of Martino & Partners s.r.l. (“Martino & Partners”), a strategic advisory firm serving public and private sectors clients in Italy, for total consideration of EUR 2.0 million (USD 2.3 million) in cash paid at closing; USD 250,000 worth of shares of ISG’s common stock, issued promptly following the closing; and EUR 350,000 (USD 0.4 million) in cash, to be paid no later than April 30, 2028. Martino & Partners will also have the right to receive additional consideration paid via earn-out payments, if certain financial targets are met. The acquisition was accounted for as a business combination in accordance with Accounting Standards Codification (“ASC”) 805, Business Combinations. The following table summarizes the preliminary allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands):
​ | ​ | ​ | ​
Cash | ​ | $ | 2,331
Deferred purchase consideration | ​ | ​ | 410
Contingent liabilities | ​ | ​ | 468
ISG common stock | ​ | ​ | 250
Total allocable purchase price | ​ | $ | 3,459
​ | ​ | ​ | ​
Current assets | ​ | $ | 1,050
Intangible assets | ​ | ​ | 1,020
Fixed assets | ​ | ​ | 22
Current liabilities | ​ | ​ | (376)
Debt assumed | ​ | ​ | (34)
Net assets acquired | ​ | $ | 1,682
​ | ​ | ​ | ​
Goodwill | ​ | $ | 1,777
​ The primary factors that drove the goodwill recognized, the majority of which is deductible for tax purposes, were the inclusion of legacy Martino & Partners workforce and the expansion of the Company’s client base, geographic footprint and capabilities in the European market. Costs associated with this acquisition are included in the selling, general and administrative expenses in the Consolidated Statement of Income and Comprehensive Income and totaled $0.08 million during the nine months ended September 30, 2025. Based on the valuation and other factors as described above, the purchase price assigned to intangible assets and the amortization period were as follows: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | Purchase Price |  | Estimated
​ |  | Allocation |  | Useful Lives
Amortizable intangible assets: | ​ | ​ | ​ | ​ | ​
Trademark and trade name | ​ | $ | 220 |  | 3 years
Customer relationships | ​ | ​ | 760 | ​ | 7 years
Noncompete agreements | ​ | ​ | 40 | ​ | 4 years
Total intangible assets | ​ | $ | 1,020 | ​ | ​
​

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