Acquisitions (Tables)

9 Months Ended

Sep. 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	$	898,516
Allocation of the purchase consideration:
Cash	$	26,678
Accounts receivable	7,171
Prepaid expenses and other current assets	4,478
Property and equipment	56,268
Operating lease right-of-use assets	17,000
Identifiable intangible assets	196,020
Goodwill	617,695
Deferred income tax assets	2,528
Other assets	292
Total assets acquired	928,130
Accounts payable	(5,767)
Accrued expenses	(1,958)
Operating lease liabilities	(17,235)
Other liabilities	(4,654)
Total liabilities assumed	(29,614)
Net assets acquired	$	898,516

Schedule of Acquired Intangible Assets

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

	September 30, 2022						December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Completed technology	$	326,538	$	(152,842)	$	173,696	$	257,857	$	(128,715)	$	129,142
Customer-related intangible assets	477,512		(236,710)		240,802		398,182		(216,192)		181,990
Non-compete agreements	224		(149)		75		258		(107)		151
Trademarks and trade names	14,631		(7,160)		7,471		8,039		(6,097)		1,942
Acquired license rights	34,810		(1,824)		32,986		490		(490)		—
Total	$	853,715	$	(398,685)	$	455,030	$	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	$	84,200	17
Completed technologies	70,900		6
Acquired license rights	34,320		15
Trademarks and trade name	6,600		9
Total	$	196,020