Business Acquisition	3 Months Ended
Mar. 31, 2024
Business Acquisition
Business Acquisition	Note 16 – Business Acquisition On January 31, 2024, we acquired the remaining 79.7% interest in Fusus, Inc. (“Fusus”), a global leader in real-time crime center technology, for total consideration transferred of approximately $241.3 million, subject to adjustment (the “step acquisition”). The acquisition expands our ability to aggregate live video, data and sensor feeds, which enhances situational awareness and investigative capabilities for our customers in public safety, education and enterprise. Total transaction costs related to the acquisition were $3.5 million for the period ending March 31, 2024. These transaction costs were expensed as incurred in selling, general and administrative expenses (“SG&A”) in our condensed consolidated statements of operations. Our existing 20.3% interest had a fair value at the acquisition date of $63.3 million, which resulted in a non-taxable gain of $42.3 million. The gain is recorded in other income, net in our condensed consolidated statement of operations for the period ending March 31, 2024. Prior to the step acquisition, the fair value of the previously held investment was determined using Level 3 valuation techniques, which include inputs to the valuation methodology that are considered unobservable and significant to the fair value measurement. The purchase price allocation is subject to revision during the measurement period pending final valuation procedures and related calculations. Based on the purchase price allocation, we recorded $250.7 million of goodwill, $72.9 million of identifiable intangible assets, and $8.1 million in net tangible liabilities, excluding deferred taxes. We recorded a net deferred tax liability of $10.9 million. With the assistance of third-party valuation experts, we calculated the fair values of intangible assets using the multi-period excess earnings method for the acquired developed technology and the with and without method for customer relationships. The weighted average amortization period of the acquired intangible assets was 7.5 years. The goodwill generated from the acquisition is primarily attributable to synergies that are expected to be achieved from the integration of the business and is not deductible for tax purposes. Following the acquisition, the consolidated results of Fusus are included in the Company’s Software and Sensors operating segment.

Business Acquisition

3 Months Ended

Mar. 31, 2024

Note 16 – Business Acquisition

On January 31, 2024, we acquired the remaining 79.7% interest in Fusus, Inc. (“Fusus”), a global leader in real-time crime center technology, for total consideration transferred of approximately $241.3 million, subject to adjustment (the “step acquisition”). The acquisition expands our ability to aggregate live video, data and sensor feeds, which enhances situational awareness and investigative capabilities for our customers in public safety, education and enterprise. Total transaction costs related to the acquisition were $3.5 million for the period ending March 31, 2024. These transaction costs were expensed as incurred in selling, general and administrative expenses (“SG&A”) in our condensed consolidated statements of operations.

Our existing 20.3% interest had a fair value at the acquisition date of $63.3 million, which resulted in a non-taxable gain of $42.3 million. The gain is recorded in other income, net in our condensed consolidated statement of operations for the period ending March 31, 2024. Prior to the step acquisition, the fair value of the previously held investment was determined using Level 3 valuation techniques, which include inputs to the valuation methodology that are considered unobservable and significant to the fair value measurement.

The purchase price allocation is subject to revision during the measurement period pending final valuation procedures and related calculations. Based on the purchase price allocation, we recorded $250.7 million of goodwill, $72.9 million of identifiable intangible assets, and $8.1 million in net tangible liabilities, excluding deferred taxes. We recorded a net deferred tax liability of $10.9 million.

With the assistance of third-party valuation experts, we calculated the fair values of intangible assets using the multi-period excess earnings method for the acquired developed technology and the with and without method for customer relationships. The weighted average amortization period of the acquired intangible assets was 7.5 years.

The goodwill generated from the acquisition is primarily attributable to synergies that are expected to be achieved from the integration of the business and is not deductible for tax purposes. Following the acquisition, the consolidated results of Fusus are included in the Company’s Software and Sensors operating segment.