Acquisition Related Liabilities |
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Acquisition Related Liabilities | 6. Acquisition Related Liabilities The following is a summary of acquisition related liabilities:
The changes in the fair value of the acquisition related liabilities are included in other expenses on the condensed unaudited consolidated statements of operations and comprehensive loss. The Company is a party to a litigation matter in relation to certain acquisition related liabilities for its eBay CRM acquisition dated November 2, 2015. The Company has recorded a liability of $8,000 as of March 31, 2022 which is still being contested by the Company and in view of the numerous legal, technical and factual issues involved in these lawsuits, the Company may resolve the remaining liabilities in any amount higher or lower than the accruals. On March 10, 2022, the Company entered into a settlement agreement with the sellers of Sizmek to resolve the dispute related to the contingent purchase consideration payable in connection with the Sizmek acquisition made during the year ended December 31, 2019. As such, the Company agreed to pay $1,085 in cash and issue 100,000 shares of Class A common stock valued at $1,083, of which $542 in cash was paid and 100,000 shares of Class A common stock were issued during the three months ended March 31, 2022 and the remaining $543 cash was paid on April 1, 2022. As a result of this settlement, the Company accrued an additional liability of $241 during the three months ended March 31, 2022. |