BUSINESS COMBINATIONS

12 Months Ended

Mar. 31, 2012

BUSINESS COMBINATIONS [Abstract]

BUSINESS COMBINATIONS

18. BUSINESS COMBINATIONS

During the fiscal year 2012, we acquired NCC, Vanticore, and PBM as part of our expansion strategy. We acquired NCC in June 2011 for $3.5 million, plus contingent consideration of up to an additional $3.2 million, VantiCore in January 2012 for $2.2 million and PBM in February, 2012 for $7.0 million. These transactions were accounted for as a business combination in accordance with Codification Topic Business Combinations. The purchase price for each acquisition was allocated based on the fair values of the acquired assets and liabilities assumed, including acquired intangible assets. The following table summarizes the total estimated fair values of assets acquired and liabilities assumed for these transactions at their respective acquisition dates (in thousands):

Cash and cash equivalents	$	899
Customer relationships		3,700
Other intangible assets		398
Goodwill		9,840
Other assets		4,211
Contingent consideration		(1,500	)
Other liabilities		(4,844	)
	$	12,704

All the assets acquired and liabilities assumed were included in ePlus Technology, inc., a subsidiary of ePlus inc., which is a part of the technology sales business segment as of as of March 31, 2012. The amount of goodwill associated with these acquisitions that will be deductible for tax purposes is $3.0 million.  These acquisitions are not material either individually or in aggregate. Accordingly, pro-forma financial information has not been presented.