Acquisitions (Tables)

3 Months Ended

Mar. 31, 2019

Acquisitions [Abstract]

Acquisitions

The following table summarizes the fair value of consideration transferred for the acquisitions disclosed above (in thousands):

	Innuvate		Treviso		L&W Holdings		Total
Total cash consideration	$	17,587	$	14,648	$	—	$	32,235
Shares issued in conjunction with acquisition		5,863		69,252		25,000		100,115
Total consideration	$	23,450	$	83,900	$	25,000		132,350
Previously held equity interest in equity method Investments(1)		8,748		30,281		—		39,029
Total	$	32,198	$	114,181	$	25,000	$	171,379

(1) The acquisitions of Innuvate and Treviso are considered step acquisitions, and accordingly, the Company remeasured its pre-existing 27% equity interest in Innuvate and 35% of Treviso immediately prior to completion of the acquisition to its estimated fair value of approximately $39.0 million. As a result of the remeasurement, the Company recorded a gain of approximately $13.6 million within other income (expense), during the first quarter of 2018, representing the excess of the approximate $39.0 million estimated fair value of its pre-existing 27% equity interest in Innuvate and 35% equity interest of Treviso over its transaction date carrying value of approximately $25.4 million.

The following table summarizes the fair value of the assets acquired for the acquisitions disclosed above (in thousands):

	Innuvate				Treviso				L&W Holdings
	Life	Amount			Life	Amount			Life	Amount
Total current assets		$	6,219			$	19,659			$	7,353
Fixed assets			9,291				33,282				114
Customer list	9 years		5,100		9 years		16,500		7 years		6,500
Order backlog	5 months		200		10 months		4,700		4 months		900
Trademarks	7 years		900		6 years		1,300		5 years		600
Total current liabilities			(3,942	)			(3,740	)			(1,495	)
Other non-current liabilities			—				—				(1,731	)
Total identifiable net assets acquired			17,768				71,701				12,241
Goodwill			17,230				42,480				12,759
Fair value of noncontrolling interest			(2,800	)			—				—
Total consideration and value to be allocated to net assets		$	32,198			$	114,181			$	25,000