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Business Divestiture (Tables)
 9 Months Ended
Sep. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Assets and Liabilities Sold
The assets and liabilities of Ctrack South Africa that were sold in the transaction as of July 30, 2021, are summarized below:
(in thousands)
Assets:
Cash and cash equivalents$5,040 
Accounts receivable, net3,505 
Inventory 3,821 
Prepaid expenses and other 370 
Property, plant and equipment, net4,545 
Rental assets, net2,448 
Intangible assets, net11,278 
Goodwill 10,734 
Total assets$41,741 
Accounts payable$3,961 
Accrued expenses and other liabilities1,107 
Deferred tax liabilities, net3,647 
Other long-term liabilities 746 
Total liabilities9,461 
Net assets $32,280 
As of September 30, 2021, net proceeds recognized are comprised of the following:
(in thousands)
Initial purchase consideration received, upon close$36,566 
Working capital adjustments2,584 
Net proceeds recognized $39,150 
Net gain on sale for the three and nine months ended September 30, 2021 is comprised of the following:
(in thousands)
Gross proceeds recognized$39,150 
Less: Book value of net assets sold 32,280 
Less: Release of cumulative foreign currency translation adjustments related to Ctrack South Africa1,608 
Net gain on sale $5,262