ACQUISITIONS - Note 11

6 Months Ended

Sep. 30, 2018

Business Combinations [Abstract]

ACQUISITIONS - Note 11

11. ACQUISITIONS

MarianaIQ

On April 12, 2018, the Company entered into an Asset Purchase Agreement with MarianaIQ Inc. (MarianaIQ) for the purchase of certain assets of MarianaIQ. The total aggregate purchase price consisted of cash paid to MarianaIQ at closing, and cash to be held in escrow by the Company for fifteen months, as security against indemnity claims asserted by the Company after the closing date. The escrow amount is recorded as other accrued liabilities on the consolidated balance sheets as of September 30, 2018.

The Company recorded the acquired developed technology as an identifiable intangible asset with an estimated useful life of two years. The fair value of the technology was based on estimates and assumptions made by management using a cost approach method. The intangible asset is amortized on a straight-line basis over two years.

The excess of the consideration transferred over the aggregate fair value of the asset acquired was recorded as goodwill. The amount of goodwill recognized was primarily attributable to the expected contributions of the entity to the overall corporate strategy in addition to the acquired workforce.

The preliminary fair values of the assets acquired are as follows (in thousands):

		Fair Value
Assets acquired:
Intangible assets	$	3,200
Net identifiable assets acquired		3,200
Goodwill		300
Total consideration transferred	$	3,500

MarianaIQ did not contribute materially to revenue or net loss for the period of acquisition to September 30, 2018. Goodwill recognized upon acquisition is expected to be deductible for income tax purposes and is included in the Americas reporting unit (see Note 5). Total acquisition costs were immaterial.