Acquisitions (Tables)

12 Months Ended

Dec. 31, 2015

The following table includes the pro forma results for the years ended December 31, 2015 and 2014 of the combined companies as though the acquisition had been completed as of the beginning of the periods presented.


	Pro forma (unaudited)
	Year Ended December 31,
(In thousands)	2015			2014⁽¹⁾
Revenue	$	148,863		$	19,508
Loss from continuing operations	$	(59,739	)	$	(35,403	)
Net loss	$	(87,575	)	$	(24,669	)
Basic and diluted loss per share	$	(6.72	)	$	(5.48	)

⁽¹⁾	As IDI Holdings, the accounting acquirer of the merger consummated effective as of March 21, 2015, was incorporated on September 22, 2014, the combined comparative pro forma figures of both IDI and Fluent in 2014 were from September 22, 2014, the date of inception, through December 31, 2014.

Fluent Acquisition [Member]

Summary of Purchase Price Allocation

The following table summarizes the preliminary purchase price allocation and the fair value of the net assets acquired and liabilities assumed (marked to market), and the resulting amount of goodwill in the acquisition of Fluent (the legal and accounting acquiree) at the Effective Date.


(In thousands)
Assets acquired:
Cash and cash equivalents	$	6,013
Accounts receivable		20,250
Prepaid expenses and other current assets		691
Property and equipment		242
Intangible assets:
Customer relationship		30,875
Trademarks		16,357
Domain names		191
Developed technology		10,716
Database		25,052
Non-competition agreements		728

Total intangible assets		83,919
Other non-current assets		763
Deferred tax assets		1,868

		113,746

Liabilities assumed:
Accounts payable and accrued expenses		10,792
Liability for employee incentive-based compensation plan		4,000
Deferred revenue		314
Deferred tax liabilities		32,111

		47,217
Goodwill		156,526

Total consideration	$	223,055

Including:
Cash consideration	$	99,289
Fair value of Series B Preferred issued		123,766

Total consideration	$	223,055

Pro Forma Disclosure for Acquisition

The financial data of Fluent for the period from December 9, 2015 through December 31, 2015 is presented below:


(In thousands)	Period from December 9, 2015 to December 31, 2015
Revenue	$	10,089
Loss from continuing operations	$	(190	)
Net loss	$	(589	)

Tiger Media [Member]

Summary of Purchase Price Allocation

The following table summarizes the purchase price allocation and the fair value of the net assets acquired and liabilities assumed (marked to market), and the resulting amount of goodwill in the acquisition of Tiger Media (the accounting acquiree) at the Effective Date.


(In thousands)
Assets acquired:
Cash and cash equivalents	$	3,569
Accounts receivable		1,808
Other current assets		326
Property and equipment		1,419
Intangible assets, net		4,280
Long-term deferred expenses		586

		11,988

Liabilities assumed:
Accounts payable		(1,519	)
Accrued expenses and other payables		(736	)
Acquisition consideration payable		(464	)
Amounts due to related parties		(124	)
Deferred revenue		(80	)

		(2,923	)

Non-controlling interests		(425	)
Goodwill		35,472

Total consideration	$	44,112

Interactive Data [Member]

Summary of Purchase Price Allocation

The purchase price allocation is summarized as follows:


(In thousands)
Assets acquired:
Working capital, net	$	426
Property and equipment, net		229
Intangible assets, net		339
Deferred tax assets		99
Goodwill		5,227

Total consideration	$	6,320