Acquisitions (Tables)

3 Months Ended

Mar. 31, 2018

The acquisition-date fair value of the consideration transferred is as follows:



	At October 19, 2017
Cash consideration ⁽¹⁾	$	65,000,000
Contingent consideration	5,000,000
Net working capital adjustment	16,148,750
Total consideration	$	86,148,750

(1) Cash consideration includes a $6.5 million and a $4.0 million escrow payment to be paid out 24 months and 36 months, respectively, from the date of the transaction.

Purchase price allocation

The following is a preliminary purchase price allocation as of the October 19, 2017 acquisition date:



	At October 19, 2017
Cash and cash equivalents	$	20,717,202
Accounts receivable	3,677,708
Prepaid expenses and other current assets	843,930
Property and equipment	1,014,716
Intangible assets	16,970,000
Accounts payable	(1,100,837		)
Accrued expenses and other current liabilities	(4,652,757		)
Deferred revenue	(1,594,641		)
Deferred tax liability	(3,862,337		)
Capital leases	(542,112		)
Net assets acquired	$	31,470,872
Goodwill	54,677,878
Total consideration	$	86,148,750

Amounts assigned to identifiable intangible assets

The amounts assigned to the identifiable intangible assets are as follows:



	Fair Value		Weighted Average Amortization Period (Years)
Trademark	$	12,090,000	10.0
Software	1,335,000		2.0
Customer relationships	3,545,000		8.7
Total identifiable intangible assets	$	16,970,000	9.1