Business Combinations (Tables)

9 Months Ended

Sep. 30, 2018

Allocation of Total Purchase Price Consideration

The Company has estimated the allocation of the total purchase price consideration between tangible assets, identified intangible assets, liabilities, and goodwill as follows (in millions):



Acquired tangible assets	$	4.2
Identified intangible assets	5.7
Liabilities assumed	(1.8		)
Goodwill	10.5
Total purchase price	$	18.6

The Company has estimated the allocation of the total purchase price consideration between tangible assets, identified intangible assets, liabilities, and goodwill as follows (in millions):



Acquired tangible assets	$	2.5
Identified intangible assets	4.6
Liabilities assumed	(1.5		)
Goodwill	6.8
Total purchase price	$	12.4

Schedule of Finite-Lived Intangible Assets Acquired

The following table presents details of the intangible assets acquired during the nine months ended September 30, 2018 (dollars in millions):



	Weighted Average Useful Life	Estimated Useful Life	Aggregate Acquisitions
Customer relationships	5 years	5 - 6 years	$	8.2
Customer backlog	1 year	1 - 1.5 years	1.4
Non-compete agreements	5 years	5 years	0.2
Trade name	1 year	1 year	0.1
Developed software	3 years	3 years	0.4
Total acquired intangible assets			$	10.3

Pro-Forma Results of Operations

The aggregate amounts of revenue and net income of the Southport and Stone Temple acquisitions in the Unaudited Condensed Consolidated Statements of Operations from the respective acquisition dates to September 30, 2018 are as follows (in thousands):



	Acquisition Date to September 30, 2018
Revenues	$	10,774
Net income	$	777

These unaudited pro-forma results are presented in compliance with the adoption of ASU No. 2010-29, Business Combinations (Topic 805): Disclosure of Supplementary Pro Forma Information for Business Combinations, and are not necessarily indicative of the actual consolidated results of operations had the acquisitions actually occurred on January 1, 2017 or January 1, 2016 or of future results of operations of the consolidated entities (in thousands except per share data):



	Nine Months Ended September 30,
	2018		2017
Revenues	$	376,695	$	385,639
Net income	$	20,846	$	12,845
Basic net income per share	$	0.63	$	0.38
Diluted net income per share	$	0.61	$	0.37
Shares used in computing basic net income per share	33,054		33,505
Shares used in computing diluted net income per share	33,931		34,582