Acquisitions (Tables)

3 Months Ended

Mar. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Preliminary Allocation of the Purchase Price

The following table presents the preliminary allocation of the purchase price for Linode (in thousands):

Total purchase consideration	$	898,777
Allocation of the purchase consideration:
Cash	$	26,678
Accounts receivable	7,220
Prepaid expenses and other current assets	6,288
Property and equipment	60,670
Operating lease right-of-use assets	16,970
Identifiable intangible assets	212,520
Goodwill	588,440
Deferred income tax assets	2,901
Other assets	652
Total assets acquired	922,339
Accounts payable	(5,387)
Accrued expenses	(970)
Operating lease liabilities	(17,205)
Total liabilities assumed	(23,562)
Net assets acquired	$	898,777

Schedule of Acquired Intangible Assets

Acquired intangible assets that are subject to amortization consisted of the following as of March 31, 2022 and December 31, 2021 (in thousands):

	March 31, 2022						December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Completed technology	$	328,516	$	(134,891)	$	193,625	$	257,857	$	(128,715)	$	129,142
Customer-related intangible assets	499,945		(224,061)		275,884		398,182		(216,192)		181,990
Non-compete agreements	254		(127)		127		258		(107)		151
Trademarks and trade names	14,663		(6,365)		8,298		8,039		(6,097)		1,942
Acquired license rights	34,810		(556)		34,254		490		(490)		—
Total	$	878,188	$	(366,000)	$	512,188	$	664,826	$	(351,601)	$	313,225

The following were the identified intangible assets acquired and their respective weighted average useful lives (in thousands, except years):

	Gross Carrying Amount		Weighted Average Useful Life (in years)
Customer-related intangible assets	$	100,700	11
Completed technologies	70,900		6
Acquired license rights	34,320		15
Trademarks	6,600		9
Total	$	212,520