Acquisitions (Tables)

12 Months Ended

Dec. 31, 2019

Smadex

Summary of Purchase Price Allocation

The following is a summary of the final purchase price allocation for the Company’s acquisition of Smadex (in millions):

Accounts receivable	$	0.9
Other current assets		0.4
Intangible assets subject to amortization		2.0
Goodwill		3.6
Current liabilities		(2.8	)
Long-term liabilities		(0.2	)
Deferred tax		(0.4	)

Schedule of Unaudited Pro Forma Information

The following unaudited pro forma information for the years ended December 31, 2018 and 2017 has been prepared to give effect to the acquisition of Smadex as if the acquisition had occurred on January 1, 2017.  This pro-forma information does not purport to represent what the actual results of operations of the Company would have been had this acquisition occurred on such date, nor does it purport to predict the results of operations for future periods.

	Years Ended December 31,
	2018		2017
Pro Forma:
Total revenue	$	307,805	$	541,663
Net income (loss)	$	13,133	$	175,765
Basic and diluted earnings per share:
Net income per share, basic	$	0.15	$	1.95
Net income per share, diluted	$	0.15	$	1.91
Weighted average common shares outstanding, basic		89,115,997		90,272,257
Weighted average common shares outstanding, diluted		90,328,583		91,891,957

Headway

Summary of Purchase Price Allocation

The following is a summary of the purchase price allocation for our acquisition of Headway (in millions):

Accounts receivable	$	19.8
Intangible assets subject to amortization		15.9
Goodwill		16.1
Current liabilities		(23.7	)
Deferred tax		(4.0	)

Schedule of Unaudited Pro Forma Information

The following unaudited pro forma information for the year ended December 31, 2017 has been prepared to give effect to the acquisition of Headway as if the acquisition had occurred on January 1, 2017. This pro forma information does not purport to represent what the actual results of operations of the Company would have been had this acquisition occurred on such date, nor does it purport to predict the results of operations for any future periods.

	Year Ended December 31, 2017
Pro Forma:
Total revenue	$	545,592
Net income (loss)	$	176,138
Basic and diluted earnings per share:
Net income per share, basic	$	1.95
Net income per share, diluted	$	1.92
Weighted average common shares outstanding, basic		90,272,257
Weighted average common shares outstanding, diluted		91,891,957

Summary of Intangible Assets Subject to Amortization Acquired

Intangibles assets subject to amortization acquired includes:

Intangible Asset	Estimated Fair Value (in millions)		Weighted average life (in years)
Existing technology	$	1.0	2.0
Publisher relationships		5.0	3.0
Advertiser relationships		4.8	5.0
MediaMath agreement		2.1	9.0
Non-Compete agreements		1.1	4.0
Trade name		1.9	5.0