Acquisitions (Tables)

9 Months Ended

Sep. 30, 2021

Schedule of Business Acquisitions Aggregate Details

The aggregate details of the Company’s acquisition activity are as follows:


	Acquisitions Completed in
	Nine Months Ended		Year Ended
	September 30, 2021		December 31, 2020
Number of acquisitions	12		6
Cash paid at closing (1)	$	1,071,532	$	98,298
Cash acquired	(37,837)		(5,266)
Net cash paid	$	1,033,695	$	93,032

(1)Of the cash paid at closing for the nine months ended September 30, 2021, $7,050 was deposited into an escrow account to secure any potential indemnification and other obligations of the seller.

Schedule of Business Acquisitions Contingent Consideration

The fair value of the contingent consideration from acquisitions is included in the consolidated balance sheets as follows:


	September 30, 2021		December 31, 2020
Accruals and other current liabilities	$	6,900	$	2,884
Other liabilities	2,133		1,415
Contingent consideration from acquisitions	$	9,033	$	4,299

The fair value of non-contingent consideration from acquisitions is included in the consolidated balance sheets as follows:


	September 30, 2021		December 31, 2020
Accruals and other current liabilities	$	5,911	$	685
Other liabilities	5,876		1,774
Non-contingent consideration from acquisitions	$	11,787	$	2,459

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following summarizes the fair values of the assets acquired and liabilities assumed, as well as the weighted average useful lives assigned to acquired intangible assets at the respective date of each acquisition (including contingent consideration):


	Acquisitions Completed in
	Nine Months Ended		Year Ended
	September 30, 2021		December 31, 2020
Consideration:
Cash paid at closing	$	1,071,532	$	98,298
Shares issued at closing (1)(2)	182,390		—
Contingent consideration	5,581		2,380
Deferred, non-contingent consideration, net	10,081		1,416
Total consideration	$	1,269,584	$	102,094
Assets acquired and liabilities assumed:
Cash	$	37,837	$	5,266
Prepaid and other current assets	23,709		8,701
Operating lease right-of-use assets	12,074		2,529
Property and equipment	4,383		499
Investments	—		—
Other assets	874		36
Software and technology (weighted average useful life of 5 and 3 years, respectively)	45,753		2,207
Customer relationships (weighted average useful life of 9 and 6 years, respectively)	143,794		11,371
Trademarks (weighted average useful life of 10 and 7 years, respectively)	42,444		3,953
Non-compete agreement (useful life of 5 years)	—		200
In-process research and development	4,400		—
Total identifiable assets acquired excluding goodwill	315,268		34,762
Accruals and other current liabilities	(28,065)		(4,991)
Deferred revenues	(18,412)		(5,351)
Operating lease liabilities	(11,966)		(2,529)
Deferred income taxes	(48,374)		(1,701)
Other liabilities	(716)		(86)
Total liabilities assumed	(107,533)		(14,658)
Net identifiable assets acquired excluding goodwill	207,735		20,104
Goodwill	1,061,849		81,990
Net assets acquired	$	1,269,584	$	102,094

(1)Of the total 3,141,342 shares issued at closing, 83,627 shares are subject to forfeiture if post‑closing employment service conditions are not met. Accordingly, $5,452 is being recorded as stock‑based compensation expense over the related forfeiture period of two years (see Note 15).

(2)A fair value adjustment of $16,943 was applied to the stock consideration due to restrictions on the transfer of securities.