Business Combination (Tables)

9 Months Ended

Sep. 30, 2023

Business Combination

Schedule of acquisition date fair value of consideration

	Acquisition Date
	(January 31, 2023)
	(in thousands)
Cash paid, net of cash acquired	$	30,373
Contingent consideration		26,055
Acquisition date fair value	$	56,428

Summary of estimated fair values of assets acquired and liabilities assumed

	Acquisition Date
	(January 31, 2023)
	(in thousands)
Accounts receivable	$	247
Inventories		391
Prepaid expense and other current assets		381
Property, plant, and equipment		736
Intangible assets		28,540
Total identifiable assets acquired		30,295
Accounts payable and accrued expenses		656
Customer deposits and deferred revenue		429
Deferred income taxes		5,723
Other liabilities		80
Total liabilities assumed		6,888
Net identifiable assets acquired		23,407
Goodwill		33,021
Net assets acquired	$	56,428

Summary of classes of intangible assets acquired and estimated useful life

	Acquisition Date
	(January 31, 2023)
	Amount		Useful life
	(in thousands)
Technology	$	28,020	15	years
Customer relationships		460	5	years
Backlog		60	1.5	years
Intangible assets acquired	$	28,540