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Acquisitions (Tables)

6 Months Ended

Jun. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Consideration Paid for Acquisitions

The following table summarizes the consideration transferred for the acquisitions described above (in thousands):

						BA Insight						Objectif Lune						Panviva						BlueVenn						Second Street
Cash						$	33,355					$	29,750					$	19,931					$	53,535					$	25,436
Holdback (1)						645						5,250						3,517						2,429						5,000
Contingent consideration (2)						—						—						—						2,535						1,650
Working capital and other adjustments						1,587						338						379						(537)						(1,365)
Total consideration						$	35,587					$	35,338					$	23,827					$	57,962					$	30,721

(1)Represents the cash holdbacks subject to indemnification claims that are payable 12 months following closing for Objectif Lune, Panviva and Second Street, 15 months following closing for BA Insight and 18 months following closing for BlueVenn.

(2)Represents the acquisition date fair value of anticipated earnout payments, which are based on the estimated probability of attainment of the underlying future performance-based conditions at the time of acquisition. The maximum potential payout for the BlueVenn and Second Street earn-outs were $21.7 million and $3.0 million, respectively. As of March 31, 2022, the earnout payments for BlueVenn and Second Street were finalized resulting in no payments made.

Schedule of Assets and Liabilities Assumed through Acquisition

The following condensed table presents the preliminary and finalized acquisition-date fair value of the assets acquired and liabilities assumed for the acquisitions during the year ended December 31, 2021 and through the six months ended June 30, 2022, as well as assets and liabilities (in thousands):

						Preliminary												Final
						BA Insight						Objectif Lune						Panviva						BlueVenn						Second Street
Year Acquired						2022						2022						2021						2021						2021
Cash						$	4					$	745					$	132					$	1,115					$	—
Accounts receivable						2,466						5,289						2,122						1,289						1,105
Other current assets						4,080						7,197						4,985						2,002						89
Operating lease right-of-use asset						110						1,905						197						1,357						489
Property and equipment						3						286						26						611						156
Customer relationships						10,500						17,717						9,757						18,888						14,600
Trade name						150						362						76						238						200
Technology						2,000						5,512						2,194						4,337						3,400
Favorable Leases						—						291						—						—						—
Goodwill						25,605						22,937						16,604						44,892						16,586
Other assets						25						744						33						24						13
Total assets acquired						44,943						62,985						36,126						74,753						36,638
Accounts payable						(236)						(2,001)						(1,257)						(2,772)						(230)
Accrued expense and other						(4,193)						(9,437)						(5,053)						(2,429)						(378)
Deferred tax liabilities						—						(5,726)						(2,395)						(3,640)						(4,320)
Deferred revenue						(4,817)						(8,578)						(3,397)						(6,593)						(500)
Operating lease liabilities						(110)						(1,905)						(197)						(1,357)						(489)
Total liabilities assumed						(9,356)						(27,647)						(12,299)						(16,791)						(5,917)
Total consideration						$	35,587					$	35,338					$	23,827					$	57,962					$	30,721

Schedule of Weighted-Average Amortization Period

The following table summarizes the weighted-average useful lives, by major finite-lived intangible asset class, for intangibles acquired during the six months ended June 30, 2022 and the year ended December 31, 2021 (in years):

			Useful Life
			June 30, 2022						December 31, 2021
Customer relationships			7.0						7.0
Trade name			2.0						2.0
Developed technology			6.2						5.0
Favorable Leases			6.3						0
Total weighted-average useful life			6.8						6.6

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Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

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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.

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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.

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