Acquisitions (Tables)

3 Months Ended

Mar. 31, 2017

The total consideration transferred follows (in thousands):


Cash consideration, less $74 of working capital adjustments	$	10,176
Value of common stock issued		14,138
Estimated fair value of contingent consideration		952

Total consideration transferred	$	25,266

Components and Allocation of Purchase Price

The components and allocation of the purchase price consists of the following amounts (in thousands):


Cash and cash equivalents	$	1,409
Accounts receivable		697
Inventory		155
Other current assets		169
Fixed assets, net		114
Customer relationships		5,318
Developed technology		2,175
Non-competition agreements		57
Trademark and trade name		11
Deferred tax assets		885
Accounts payable and other liabilities assumed		(599	)
Deferred tax liabilities		(2,202	)
Goodwill		17,077

Net assets acquired	$	25,266

TangenX Technology Corporation

Consideration Transferred

The total consideration transferred follows (in thousands):


Cash consideration	$	37,532
Less: working capital adjustment		(467	)

Net assets acquired	$	37,065

Components and Allocation of Purchase Price

The components and allocation of the purchase price consists of the following amounts (in thousands):


Cash and cash equivalents	$	1,218
Accounts receivable		459
Other receivables		111
Inventory		936
Other current assets		50
Fixed assets, net		215
Customer relationships		6,192
Developed technology		6,044
Non-competition agreements		21
Trademark and trade name		11
Accounts payable and other liabilities assumed		(3,083	)
Deferred tax liabilities		(4,525	)
Goodwill		29,416

Net assets acquired	$	37,065

Unaudited Supplemental Pro Forma Information

The following table presents unaudited supplemental pro forma information as if the TangenX Acquisition had occurred as of January 1, 2016 (in thousands, except per share data):


	March 31, 2017		March 31, 2016
Total revenue		30,590		26,952
Net income		3,608		5,118
Earnings per share:
Basic	$	0.11	$	0.15

Diluted	$	0.10	$	0.15