Acquisitions (Tables)

3 Months Ended

Mar. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisitions Aggregate Details

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

	Acquisitions Completed in
	Three Months Ended		Year Ended
	March 31, 2022		December 31, 2021
Number of acquisitions	1		13
Cash paid at closing (1)	$	715,114	$	1,072,820
Cash acquired	(19,146)		(37,837)
Net cash paid	$	695,968	$	1,034,983

(1)Of the cash paid at closing for the three months ended March 31, 2022 and year ended December 31, 2021, $3,000 and $8,701, respectively, 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:

	March 31, 2022		December 31, 2021
Accruals and other current liabilities	$	3,401	$	5,382
Other liabilities	960		1,231
Contingent consideration from acquisitions	$	4,361	$	6,613

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

	March 31, 2022		December 31, 2021
Accruals and other current liabilities	$	3,522	$	4,751
Other liabilities	6,180		6,177
Non-contingent consideration from acquisitions	$	9,702	$	10,928

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
	Three Months Ended		Year Ended
	March 31, 2022		December 31, 2021
Consideration:
Cash paid at closing	$	715,114	$	1,072,820
Shares issued at closing (1)(2)	—		182,390
Contingent consideration	—		4,544
Deferred, non-contingent consideration, net	—		10,090
Total consideration	$	715,114	$	1,269,844
Assets acquired and liabilities assumed:
Cash	$	19,146	$	37,837
Accounts receivable and other current assets	1,098		24,174
Operating lease right-of-use assets	1,237		12,095
Property and equipment	963		4,383
Other assets	—		874
Software and technology (weighted average useful life of 5 years)	9,700		43,560
Customer relationships (weighted average useful life of 10 and 9 years, respectively)	78,300		158,555
Trademarks (weighted average useful life of 10 years)	5,200		38,256
In-process research and development	—		3,700
Total identifiable assets acquired excluding goodwill	115,644		323,434
Accruals and other current liabilities	(610)		(27,649)
Deferred revenues	(10,219)		(26,245)
Operating lease liabilities	(1,237)		(11,988)
Deferred income taxes	(6,865)		(53,342)
Other liabilities	—		(716)
Total liabilities assumed	(18,931)		(119,940)
Net identifiable assets acquired excluding goodwill	96,713		203,494
Goodwill	618,401		1,066,350
Net assets acquired	$	715,114	$	1,269,844

(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.