Acquisitions (Tables)

6 Months Ended

Jun. 30, 2023

Business Combinations [Abstract]

Fair Value of Consideration

The following tables summarize the fair value of consideration and the fair values of identified assets acquired and liabilities assumed for the combined acquisitions at each respective date of acquisition: Fair Value of Consideration:

(in thousands)
Cash	$	217,392
Non-cash consideration	5,056
Total consideration	$	222,448

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed:

(in thousands)
Cash	$	18,866
Accounts receivable and other tangible assets	18,600
Developed software and core technologies	25,594
Customer lists	83,790
Trade names	2,910
Accounts payable and other liabilities	(9,049)
Deferred revenue	(7,910)
Net deferred tax liabilities	(31,279)
Total identifiable net assets	$	101,522
Goodwill	$	120,926

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The weighted-average useful life, valuation method and assumptions used to determine the fair value of the intangible assets acquired in 2023 are as follows:

Intangible Asset	Weighted-Average Useful Life	Valuation Method	Assumptions
Developed software and core technologies	5 years	Relief-from-royalty or multi-period excess earnings	Royalty rate: 20.0% Obsolescence rate: 20.0% Discount rate: 15.5% - 22.0%
Trade names	5 years	Relief-from-royalty	Royalty rate: 1.0% - 2.0% Discount rate: 15.5% - 22.0%
Customer lists	13 years	Multi-period excess earnings	Attrition rate: 5.0% Discount rate: 15.5% - 22.0%