Business Combinations (Tables)

6 Months Ended

Jun. 30, 2015

The following table summarizes the allocation of the purchase price based on the estimated fair value of the assets acquired and the liabilities assumed:



(in thousands)
Net working capital, excluding deferred revenue	$	9,442
Property and equipment	1,371
Other long term assets	992
Deferred revenue	(11,670		)
Deferred tax liability	(4,509		)
Intangible assets and liabilities	90,200
Goodwill	73,960
Total purchase price	$	159,786

Acquired Intangible Assets

The MicroEdge acquisition resulted in the identification of the following identifiable intangible assets:



	Intangible assets acquired		Weighted average amortization period
MicroEdge	(in thousands)		(in years)
Customer relationships	$	61,200	13
Marketing assets	2,500		7
Marketing assets	1,600		Indefinite
Acquired technology	24,300		7
Non-compete agreements	600		3
Total intangible assets	$	90,200	11

Pro Forma Financial Information

The following unaudited pro forma condensed combined consolidated results of operations assume that the acquisition of MicroEdge occurred on January 1, 2013. This unaudited pro forma financial information does not reflect any adjustments for anticipated synergies resulting from the acquisition and should not be relied upon as being indicative of the historical results that would have been attained had the transaction been consummated as of January 1, 2013, or of the results that may occur in the future. The unaudited pro forma information reflects adjustments for amortization of intangibles related to the fair value adjustments of the assets acquired, write-down of acquired deferred revenue to fair value, additional interest expense related to the financing of the transaction and the related tax effects of the adjustments.



	Three months ended June 30,		Six months ended June 30,
(in thousands, except per share amounts)	2014		2014
Revenue	$	145,283	$	277,590
Net income	7,627		9,503
Basic earnings per share	$	0.17	$	0.21
Diluted earnings per share	$	0.17	$	0.21

WhippleHill [Member]

Business Acquisition [Line Items]

Acquired Intangible Assets

The WhippleHill acquisition resulted in the identification of the following identifiable finite-lived intangible assets:



	Intangible assets acquired		Weighted average amortization period
WhippleHill	(in thousands)		(in years)
Customer relationships	$	11,300	11
Acquired technology	8,500		7
Marketing assets	2,300		9
Non-compete agreements	100		3
Total intangible assets	$	22,200	9