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Acquisitions (Tables)
3 Months Ended
Mar. 31, 2016
Pro Forma Disclosure for Acquisition

The following table includes the pro forma results for the three months ended March 31, 2015 of the combined companies as though the acquisition had occurred on January 1, 2015.

 

 

 

Pro forma

 

 

 

Three Months Ended

 

(In thousands)

 

March 31, 2015

 

Revenue

 

$

32,105

 

Loss from continuing operations

 

 

(32,160

)

Net loss attributable to IDI

 

 

(22,198

)

Basic and diluted loss per share

 

$

(2.96

)

 

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 of Fluent Acquisition.

 

(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 relationships

 

 

30,875

 

Trademarks

 

 

16,357

 

Domain names

 

 

191

 

Developed technology

 

 

10,716

 

Databases

 

 

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

 

 

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 related to the acquisition of Tiger Media (the accounting acquiree) at the Effective Date of TBO Merger.

 

(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