3.	Acquisitions

Ascade

On July 13, 2012, we acquired Ascade Holdings AB (“Ascade”) for approximately $19 million in cash (the “Ascade Acquisition”). Ascade was an independent Swedish software company which provided trading and routing software solutions to telecommunications companies globally. Ascade’s trading and routing software solution, has been combined with our Wholesale Business Management Solution (“WBMS”) suite to strengthen our global leadership position in the telecommunications wholesale marketplace.

Summary of Purchase Price Allocation. The application of the acquisition method of accounting for business combinations requires the use of significant estimates and assumptions in the determination of the fair value of assets acquired and liabilities assumed.

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



Trade accounts receivable	$	3,049
Other current assets		2,701
Fixed assets		137
Acquired customer relationships and other intangible assets		5,640
Acquired technology assets		3,590
Goodwill		8,955
Total assets acquired		24,072
Accounts payable and accrued employee compensation		2,294
Deferred revenue		2,154
Other current liabilities		380
Total liabilities assumed		4,828
Net assets acquired	$	19,244

Unaudited Pro Forma Information. The results of operations for the Ascade businesses are included in the accompanying Income Statements for the periods subsequent to the respective acquisition dates.

Pro forma information on our historical results of operations to reflect the acquisition of Ascade is not presented as Ascade’s results of operations during prior periods are not material to our results of operations.

Volubill

On December 3, 2013, we acquired certain key assets of Volubill, including the shares of two Volubill subsidiaries, for approximately $3 million. Volubill was an independent global company and leading supplier of integrated real-time policy and charging solutions to mobile, satellite, and fixed broadband operators. The products acquired from Volubill will enhance the Company’s existing offerings in revenue management, service personalization, and customer management provided to the telecommunications marketplace.

The estimated fair values of the assets acquired and liabilities assumed from Volubill at the date of acquisition are provisional and have not been finalized as of December 31, 2013; however, we do not anticipate that any such values will be material to our Balance Sheet.

Unaudited Pro Forma Information. The results of the Volubill operations acquired are included in the accompanying Income Statement for the period subsequent to the acquisition date.

Pro forma information on our historical results of operations to reflect the Volubill acquisition is not presented as the results of operations related to the Volubill acquisition were not material to our results of operations.