(8) Business Combinations

The Company continually evaluates potential acquisitions that either strategically fit within the Company’s existing portfolio or expand the Company’s portfolio into new product lines or adjacent markets. The Company has completed a number of acquisitions that have been accounted for as business combinations and have resulted in the recognition of goodwill in the Company’s financial statements. This goodwill includes the know-how of the assembled workforce, the ability of the workforce to further improve technology and product offerings, customer relationships and the expected cash flows resulting from these efforts. Goodwill may also include expected synergies resulting from the complementary strategic fit these businesses bring to existing operations. The business acquisition discussed below is included in the Company’s results of operations from their respective dates of acquisition.

The final purchase price for the 2017 acquisitions of IDV Solutions LLC, or IDV, was finalized as of the fourth quarter of 2017.

Unaudited Pro Forma Financial Information

The following unaudited pro forma statement of operations data presents the combined results of the Company and its acquisition of IDV completed during the year ended December 31, 2017, assuming that the business acquisitions completed during 2017 had occurred on January 1, 2016. The unaudited pro forma statement of operations data below includes adjustments for additional amortization expense related to acquired intangible assets and depreciation assuming the 2017 acquisitions had occurred on January 1, 2016.

	Revenue		Net income (loss)
Results of acquired business included in the three months ended (in thousands):
From the acquisition date to March 31, 2017	$	1,348	$	(635	)
For the three months ended March 31, 2017 pro forma	$	1,885	$	(1,389	)

	Three Months Ended March 31,
	2017
Basic and diluted earnings per share pro forma	$	(0.05	)

The unaudited pro forma information presented does not purport to be indicative of the results that would have been achieved had the acquisition been consummated at January 1, 2016 nor of the results which may occur in the future. The pro forma adjustments are based upon available information and certain assumptions that the Company believes are reasonable.