Acquisitions (Tables)

6 Months Ended

Jun. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Preliminary Allocation of the Purchase Price

The following table represents 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	9,161
Prepaid expenses and other current assets	4,478
Property and equipment	56,300
Operating lease right-of-use assets	17,000
Identifiable intangible assets	197,520
Goodwill	617,827
Deferred income tax assets	1,390
Other assets	292
Total assets acquired	930,646
Accounts payable	(7,757)
Accrued expenses	(1,958)
Operating lease liabilities	(17,235)
Other liabilities	(4,919)
Total liabilities assumed	(31,869)
Net assets acquired	$	898,777

Schedule of Acquired Intangible Assets

Acquired intangible assets that are subject to amortization consisted of the following as of June 30, 2022 and December 31, 2021 (in thousands):

	June 30, 2022						December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Completed technology	$	327,466	$	(143,589)	$	183,877	$	257,857	$	(128,715)	$	129,142
Customer-related intangible assets	481,593		(230,323)		251,270		398,182		(216,192)		181,990
Non-compete agreements	238		(139)		99		258		(107)		151
Trademarks and trade names	14,641		(6,738)		7,903		8,039		(6,097)		1,942
Acquired license rights	34,810		(1,252)		33,558		490		(490)		—
Total	$	858,748	$	(382,041)	$	476,707	$	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	$	85,700	11
Completed technologies	70,900		6
Acquired license rights	34,320		15
Trademarks and trade name	6,600		9
Total	$	197,520