Business Combinations

9 Months Ended

Jul. 31, 2015

Business Combinations [Abstract]

Business Combinations

Business Combinations

During the nine months ended July 31, 2015, the Company completed several acquisitions. The aggregated total purchase consideration was $120.8 million, net of cash acquired. The Company does not consider these acquisitions to be material, individually or in the aggregate, to the Company’s balance sheet and results of operations. The preliminary purchase price allocation was as follows: $8.4 million of net assumed liabilities based on the respective fair values at the acquisition dates, $92.2 million of goodwill, of which $2.3 million is deductible for tax purposes, and $37.1 million of acquired identifiable intangible assets valued using the income or cost methods. The intangible assets are being amortized over their respective useful lives ranging from one to six years. The acquisition-related costs totaling $4.4 million were expensed as incurred in the condensed unaudited consolidated statement of operations. The Company funded the acquisitions with existing cash.

The preliminary fair value estimates for the assets acquired and liabilities assumed for these acquisitions are not yet finalized and may change as additional information becomes available during the respective measurement periods. The primary areas of those preliminary estimates relate to certain tangible assets and liabilities, identifiable intangible assets, and taxes. Additional information, which existed as of the acquisition date but is yet unknown to the Company, may become known to the Company during the remainder of the measurement period not to exceed 12 months from the acquisition date. Changes to the provisional amounts recorded as assets or liabilities during the measurement period may result in an adjustment to goodwill.