Business Combinations (Tables)

9 Months Ended

Sep. 30, 2021

Summary of Fair Value of the Assets Acquired and the Liabilities Assumed

The table below summarizes the allocation of the purchase price of Saylent based on the estimated fair value of the assets acquired and the liabilities assumed (in thousands). The Company’s remaining provisional purchase price allocation at September 30, 2021 relates to income tax effects.


Assets acquired:
Cash and cash equivalents	$	2,451
Restricted cash	104
Accounts receivable, net	4,174
Prepaid expenses and other current assets	121
Property and equipment, net	371
Goodwill	22,036
Intangible assets	13,700
Total assets acquired	42,957
Liabilities assumed:
Accounts payable	210
Accrued compensation and benefits	2,191
Accrued expenses	754
Deferred tax liability	521
Notes payable (PPP Loan)	775
Total liabilities assumed	4,451
Fair value of assets acquired and liabilities assumed	$	38,506

Summary of Company's Goodwill

A rollforward of the Company’s goodwill balance at December 31, 2021 to September 30, 2021 is as follows:


Balance, December 31, 2020	$	542,965
Saylent Technologies, Inc. acquisition	22,036
Adjustments to TazWorks acquisition date fair value made in 2021	47
Balance, September 30, 2021	$	565,048

Summary of Fair Value of the Separately Identifiable Finite-Lived Intangible Assets Acquired and Estimated Useful Lives

The fair value of the separately identifiable finite-lived intangible assets acquired and estimated useful lives are as follows (in thousands, except years):


	Estimated Fair Values		Weighted Average Amortization Life (years)
Customer relationships	$	5,800	15.0
Trademarks	1,500		6.3
Non-competition agreements	600		2.0
Developed technology	5,800		8.7
Total acquisition-related intangible assets	$	13,700	10.8