Significant Events and Transactions of the Period |
9 Months Ended |
---|---|
Sep. 30, 2016 | |
Significant Events and Transactions of the Period Disclosure [Abstract] | |
Significant Events and Transactions of the Period | Significant Events and Transactions of the Period Changes in the scope of consolidation Business combinations Monsieur Drive Acquisition On May 31, 2016, we acquired all of the outstanding shares of Monsieur Drive S.A.S. ("Monsieur Drive"), a Paris-based company building advertising products for the consumer packaged goods vertical. The total consideration paid was $5.1 million (€4.6 million) for the acquisition of the shares, financed by the available cash resources at the acquisition date (Note 6). This business combination has been accounted for under the acquisition method in accordance with ASC 805 – Business Combinations. A preliminary valuation of the fair value of Monsieur Drive's assets acquired, liabilities assumed and the related allocations of purchase price has been performed as of September 30, 2016 resulting in the identification of a technology asset of $1.4 million (€1.3 million) and a related deferred tax liability of $0.2 million (€0.2 million). Residual goodwill has been valued at $3.9 million (€3.5 million). Once this valuation analysis is finalized, the estimate of the fair value of the assets acquired and liabilities assumed may be adjusted. In addition, acquisition costs were fully expensed as incurred for a total amount of $0.2 million (€0.2 million). Consolidation scope Creation of Criteo India Pvt Ltd (India) This new subsidiary is 100% held and controlled by the Parent company. It is included in the Company’s consolidation scope as of September 30, 2016, but its contribution to the unaudited condensed consolidated financial statements is not material. Creation of Criteo Finance SAS (France) This new subsidiary is 100% held and controlled by the Parent company. It is included in the Company’s consolidation scope as of September 30, 2016, but its contribution to the unaudited condensed consolidated financial statements is not material. The business objective of this subsidiary is to enhance the service level to strategic global customers by providing them with one single billing relationship and to consolidate the management of the foreign exchange risk. |