Acquisition (Tables)

6 Months Ended

Dec. 31, 2015

The purchase price for this acquisition had been allocated based on estimates of the fair values of the acquired assets and assumed liabilities at the date of acquisition as follows (in thousands):


Purchase consideration:
Cash	$	7,841
Stock (1,164,189 shares of Company Stock)		7,719
Other purchase consideration (includes 45,119 shares of Company Stock)		640
Working capital adjustment		1,355
Total purchase price			$	17,555
Fair value of assets acquired and liabilities assumed:
Cash and cash equivalents		2,751
Restricted cash		3,185
Accounts receivable		2,850
Prepaid and other current assets		281
Property and equipment		315
Total assets acquired				9,382
Accounts payable		(786)
Accrued compensation		(3,139)
Accrued liabilities		(352)
Deferred revenue		(4,185)
Other liabilities		(326)
Total liabilities assumed				(8,788)
Fair value of identifiable intangibles at acquisition-date:
Developed technology		6,990
Customer relationships		2,990
Trade name		150
Total identifiable intangibles at acquisition-date				10,130
Deferred tax liability				(1,475)
Goodwill			$	8,306

Schedule of Finite Lived Intangible Assets

Intangible assets will be amortized over the estimated lives, as follows (in thousands):


Intangible Asset	Gross Carrying Amount	Accumulated Amortization	Net Balance	Life	Income Statement Category
Developed technology	$ 6,990	$ (2,452)	$ 4,538	4	Research and development expense
Customer relationships - software license	1,380	(967)	413	2	Sales and marketing expense
Customer relationships - maintenance license	1,610	(376)	1,234	6	Cost of sales
Trade name	150	(106)	44	2	General and administrative expense
	$ 10,130	$ (3,901)	$ 6,229

Schedule of Estimated Future Amortization Expense for Intangible Assets Acquired

Estimated future amortization expense remaining at December 31, 2015 for intangible assets acquired is as follows:


Year Ending June 30,
2016	$	1,390
2017		2,090
2018		2,016
2019		438
2020		295
Total future amortization expense	$	6,229