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Business Combinations (Tables) | 3 Months Ended
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Mar. 31, 2019
3VR |
Summary of Fair Values of Assets Acquired and Liabilities Assumed at Acquisition | The following table summarizes the fair values of assets acquired and liabilities assumed, before the settlement of the remaining indemnification claims noted above, which will be recorded by the Company in the second quarter of 2019, (in thousands):
Cash |  | $ | 195 |
Accounts receivable |  |  | 2,029 |
Inventory |  |  | 257 |
Prepaid expenses and other current assets |  |  | 169 |
Property and equipment |  |  | 334 |
Trademarks |  |  | 400 |
Customer relationships |  |  | 2,900 |
Developed technology |  |  | 3,000 |
Total identifiable assets acquired |  |  | 9,284 |
Accounts payable |  |  | (1,590 | )
Accrued expenses and liabilities |  |  | (726 | )
Deferred revenue |  |  | (2,928 | )
Debt |  |  | (3,622 | )
Total liabilities assumed |  |  | (8,866 | )
Net identifiable assets acquired |  |  | 418 |
Goodwill |  |  | 5,796 |
Net purchase price |  | $ | 6,214 |
Summary of Acquisition Related Finite-lived Intangibles and Estimated Lives | Acquisition related intangibles included in the above table are finite-lived and are being amortized on a straight-line basis over their estimated lives, which approximates the pattern in which the economic benefits of the intangible assets are expected to be realized, as follows (in thousands):
| Gross Purchased Intangible Assets |  |  | Estimated Useful Life (in Years) |
Trademarks | $ | 400 |  |  |  | 5 |
Customer relationships |  | 2,900 |  |  |  | 10 |
Developed technology |  | 3,000 |  |  |  | 10 |
| $ | 6,300 |  |  |  |  |
Thursby Software Systems |
Summary of Fair Values of Assets Acquired and Liabilities Assumed at Acquisition | Assets acquired and liabilities assumed are recorded based on valuations derived from estimated fair value assessments and assumptions used by the Company. Such estimates and assumptions are subject to change within the measurement period (up to one year from the acquisition). The following table summarizes the fair values of assets acquired and liabilities assumed at the date of acquisition (in thousands):
Cash |  | $ | 3,485 |
Accounts receivable |  |  | 526 |
Inventory |  |  | 1,361 |
Prepaid expenses and other current assets |  |  | 12 |
Trademarks |  |  | 200 |
Customer relationships |  |  | 1,500 |
Developed technology |  |  | 700 |
Total identifiable assets acquired |  |  | 7,784 |
Accounts payable |  |  | (31 | )
Accrued expenses and liabilities |  |  | (67 | )
Deferred revenue |  |  | (243 | )
Other current liabilities |  |  | (4,307 | )
Total liabilities assumed |  |  | (4,648 | )
Net identifiable assets acquired |  |  | 3,136 |
Goodwill |  |  | 3,490 |
Purchase price |  |  | 6,626 |
Less: cash acquired |  |  | (3,485 | )
Net purchase price |  | $ | 3,141 |
Summary of Acquisition Related Finite-lived Intangibles and Estimated Lives | Acquisition related intangibles included in the above table are finite-lived and are being amortized on a straight-line basis over their estimated lives, which approximates the pattern in which the economic benefits of the intangible assets are expected to be realized, as follows (in thousands):
| Gross Purchased Intangible Assets |  |  | Estimated Useful Life (in Years) |
Trademarks | $ | 200 |  |  |  | 5 |
Customer relationships |  | 1,500 |  |  |  | 10 |
Developed technology |  | 700 |  |  |  | 10 |
| $ | 2,400 |  |  |  |  |
Viscount Systems, Inc. |
Summary of Fair Values of Assets Acquired and Liabilities Assumed at Acquisition | Assets acquired and liabilities assumed are recorded based on valuations derived from estimated fair value assessments and assumptions used by the Company. Such estimates and assumptions are subject to change within the measurement period (up to one year from the acquisition.
Accounts receivable |  | $ | 636 |
Inventory |  |  | 276 |
Prepaid expenses and other current assets |  |  | 29 |
Property and equipment |  |  | 190 |
Operating lease ROU assets |  |  | 550 |
Trademarks |  |  | 160 |
Customer relationships |  |  | 710 |
Developed technology |  |  | 800 |
Total identifiable assets acquired |  |  | 3,351 |
Accounts payable |  |  | (372 | )
Operating lease liabilities |  |  | (61 | )
Accrued expenses and liabilities |  |  | (120 | )
Deferred revenue |  |  | (34 | )
Earn-out liability |  |  | (200 | )
Other current liabilities |  |  | (326 | )
Long-term operating lease liabilities |  |  | (489 | )
Total liabilities assumed |  |  | (1,602 | )
Net identifiable assets acquired |  |  | 1,749 |
Goodwill |  |  | 1,173 |
Net purchase price |  | $ | 2,922 |
Summary of Acquisition Related Finite-lived Intangibles and Estimated Lives | Acquisition related intangibles included in the above table are finite-lived and are being amortized on a straight-line basis over their estimated lives, which approximates the pattern in which the economic benefits of the intangible assets are expected to be realized, as follows (in thousands):
| Gross Purchased Intangible Assets |  |  | Estimated Useful Life (in Years) |
Trademarks | $ | 160 |  |  |  | 5 |
Customer relationships |  | 710 |  |  |  | 10 |
Developed technology |  | 800 |  |  |  | 10 |
| $ | 1,670 |  |  |  |  |

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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=84161108&loc=d3e4845-128472 + Details
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