Acquisitions (Tables)

12 Months Ended

Dec. 31, 2019

The preliminary allocation of the purchase price to the fair value of the assets acquired and the liabilities assumed as of December 23, 2019, the effective date of the acquisition, was as follows (in thousands):


Cash and cash equivalents	$	9,400
Accounts receivable	9,188
Prepaid expenses	129
Property and equipment	2,878
Intangible assets	68,400
Goodwill	81,545
Other assets	489
Accounts payable and accrued liabilities	(13,395)


Total purchase price	$	158,634

Purchase Price Allocated to Intangibles Acquired

The purchase price allocated to the intangible assets acquired was as follows (in thousands):


	Useful Life (in years)
Customer relationships	12	$	67,000

Trade name	3	1,400

Fair value of intangibles acquired		$	68,400

Pro Forma Operating Results

The following table reflects the pro forma operating results for the Company which gives effect to the acquisition of Accent as if it had occurred on January 1, 2018. The pro forma results are based on assumptions that the Company believes are reasonable under the circumstances. The pro forma results are not necessarily indicative of future results. The pro forma financial information includes the historical results of the Company and Accent adjusted for certain items, which are described below, and does not include the effects of any synergies or cost reduction initiatives related to the acquisition of Accent.


	Years ended December 31,
	2019		2018
	(pro forma, in thousands)
	(unaudited)
Revenue	$	675,259	$	650,203
Net income	$	92,845	$	60,011