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ACQUISITIONS (Tables) | 3 Months Ended
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Mar. 31, 2023
Business Acquisition [Line Items] |
Schedule of Fair Value of the Assets Acquired and Liabilities Assumed | The purchase consideration was allocated to the following assets and liabilities:
| Amount
Tangible assets acquired and liabilities assumed: |
Cash and marketable securities | $ | 68,748 |
Accounts receivable | 79,086 |
Prepaid expenses | 7,807 |
Income tax receivable | 4,566 |
Property, plant & equipment, net | 1,551 |
Other assets | 6,950 |
Accounts payable | (9,798) |
Deferred revenue | (60,768) |
Accrued expenses and other current liabilities | (110,004) |
Income tax payable | (2,091) |
Notes payable | (172,038) |
Deferred tax liabilities | (138,613) |
Other liabilities | (8,474) |
Total tangible assets acquired and liabilities assumed | (333,078) |
Intangible assets | 562,100 |
Goodwill | 821,277 |
Net assets acquired | $ | 1,050,299 |
Consideration: |
Cash | $ | 440,155 |
Equity | 411,453 |
Total consideration attributable to System1 | 851,608 |
Total consideration attributable to non-controlling interest | 198,691 |
Total consideration | $ | 1,050,299 |
NextGen Shopping, Inc |
Business Acquisition [Line Items] |
Schedule of Fair Value of the Assets Acquired and Liabilities Assumed | The purchase consideration was allocated to the following assets and liabilities:
| Amount
Cash and cash equivalents | $ | 21,232 |
Accounts receivable | 5,860 |
Other current assets | 446 |
Accounts payable | (116) |
Accrued expenses and other current liabilities | (118) |
Income tax payable | (197) |
Deferred tax liabilities | (10,895) |
Trademark - 10 years weighted average useful life | 38,100 |
Software - 4 years weighted average useful life | 4,100 |
Goodwill | 42,175 |
Net assets acquired | $ | 100,587 |
Consideration: |
Cash | $ | 75,087 |
Equity | 25,500 |
Total consideration | $ | 100,587 |
RoadWarrior, LLC |
Business Acquisition [Line Items] |
Schedule of Fair Value of the Assets Acquired and Liabilities Assumed | The purchase consideration was allocated to the following assets and liabilities:
| Amount
Working capital | $ | 155 |
Trademark - 10 years weighted average useful life | 2,200 |
Software - 4 years weighted average useful life | 1,000 |
Customer relationships - 3 years weighted average useful life | 1,300 |
Goodwill | 14,981 |
Net assets acquired | $ | 19,636 |
Total consideration |
Cash | $ | 19,636 |

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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 -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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