On May 10, 2019, the Company acquired 100% of the equity interests of eFront Holding SAS (“eFront Transaction” or “eFront”), a leading alternative investment management software and solutions provider for approximately $1.3 billion, excluding the settlement of eFront’s outstanding debt. The acquisition of eFront expanded Aladdin’s illiquid alternative capabilities and enables BlackRock to provide individual alternative or whole-portfolio technology solutions to clients.

The purchase price was funded through a combination of existing cash and issuance of commercial paper (subsequently repaid with existing cash) and long-term notes in April 2019. See Note 15, Borrowings, for information on the debt issuance in April 2019. A summary of the fair values of the assets acquired and liabilities assumed in this acquisition is as follows:



(in millions)	Fair Value
Accounts receivable	$	61
Finite-lived intangible assets:
Customer relationships		400
Technology-related		203
Trade name		14
Goodwill		1,044
Other assets		49
Deferred income tax liabilities		(146	)
Other liabilities assumed		(125	)
Total consideration, net of cash acquired	$	1,500

Summary of consideration, net of cash acquired:
Cash paid including settlement of outstanding debt of approximately $0.2 billion	$	1,555
Cash acquired		(55	)
Total consideration, net of cash acquired	$	1,500