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Transactions (Tables)
9 Months Ended
Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Allocation of Purchase Price
The purchase price was allocated to the assets acquired and liabilities assumed based on their estimated fair values as of August 1, 2024, as follows (in thousands):
Purchase consideration:
Cash$19,500 
Fair value of contingent consideration9,000 
Total consideration$28,500 
Identifiable intangible assets acquired:
Technology7,700 
Total identifiable intangible assets acquired7,700 
Liabilities assumed:
Accrued compensation and employee benefits
Total liabilities assumed
Goodwill20,809 
Net assets acquired$28,500 
The purchase price was allocated to the assets acquired and liabilities assumed based on their estimated fair values as of January 20, 2023, as follows (in thousands):
Purchase consideration:
Cash$387,823 
Fair value of Class A common stock issued261,271 
Fair value of contingent consideration66,600 
Total consideration$715,694 
Tangible assets acquired:
Accounts receivable$28,065 
Prepaid expenses and other current assets675 
Total tangible assets acquired28,740 
Identifiable intangible assets acquired:
Customer relationships345,100 
Technology50,700 
Corporate trade name8,200 
Total identifiable intangible assets acquired404,000 
Liabilities assumed:
Accrued liabilities 5,409 
Accrued compensation and employee benefits6,173 
Deferred tax liabilities, net100,486 
Deferred revenue142 
Total liabilities assumed112,210 
Goodwill (1)
395,164 
Net assets acquired$715,694 
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(1)Goodwill acquired does not include $1.0 million of measurement period adjustments of $2.4 million in reductions due to goodwill written off upon disposal of non-strategic assets subsequent to March 31, 2023.
Schedule of Assets Acquired and Liabilities
The purchase price was allocated to the assets acquired and liabilities assumed based on their estimated fair values as of January 20, 2023, as follows (in thousands):
Purchase consideration:
Cash$387,823 
Fair value of Class A common stock issued261,271 
Fair value of contingent consideration66,600 
Total consideration$715,694 
Tangible assets acquired:
Accounts receivable$28,065 
Prepaid expenses and other current assets675 
Total tangible assets acquired28,740 
Identifiable intangible assets acquired:
Customer relationships345,100 
Technology50,700 
Corporate trade name8,200 
Total identifiable intangible assets acquired404,000 
Liabilities assumed:
Accrued liabilities 5,409 
Accrued compensation and employee benefits6,173 
Deferred tax liabilities, net100,486 
Deferred revenue142 
Total liabilities assumed112,210 
Goodwill (1)
395,164 
Net assets acquired$715,694 
————————
(1)Goodwill acquired does not include $1.0 million of measurement period adjustments of $2.4 million in reductions due to goodwill written off upon disposal of non-strategic assets subsequent to March 31, 2023.