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Acquisition (Tables)

6 Months Ended

Jun. 30, 2021

Business Combinations [Abstract]

Summary of Fair Value of Assets Acquired and Liabilities Assumed At Date of Acquisition

The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition (in thousands):

Net working capital, excluding deferred revenue		$	155
Customer relationships			940
Developed technology			280
Trade name / trademarks			20
Goodwill			1,651
Assets acquired			3,046
Deferred revenue			(616	)
Net assets acquired		$	2,430

Summary of Fair Value of Intangible Assets and Estimated Useful Lifes

The fair values of intangible assets were based on valuations using the income approach.  The fair value of intangible assets and their estimated useful lifes are as of June 30, 2021 are as follows (dollars in thousands):

		Useful Life		Gross Amount				Accumulated Amortization				Net Book Value
Customer relationships		8 years		$	940			$	73			$	867
Developed technology		5 years			280				35				245
Trade name trademarks		7 years			20				2				18
				$	1,240			$	110			$	1,130

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

During the three and six months ended June 30, 2021 we recorded $44 thousand and $88 thousand respectively, of intangible  amortization.  We expect to record amortization for the years ended December 31 (in thousands):

2021		$	88
2022			176
2023			176
2024			176
2025			169
Thereafter			345
		$	1,130

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Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination.

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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.

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Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
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