Acquisitions (Tables)

6 Months Ended

Jun. 30, 2014

Business Combinations [Abstract]

Preliminary Purchase Price Allocation

In connection with the acquisitions, the Company recorded the following amounts based upon its purchase price allocations as of June 30, 2014. The purchase price allocation for OPAY is considered preliminary and is subject to completion of valuations and other analyses.

(in thousands, except weighted average useful lives)	Weighted-Average Useful Lives	Official Payments Holdings, Inc.		Online Resources Corporation		PTESA
Current assets:
Cash and cash equivalents		$	25,871	$	9,930	$	193
Billed and accrued receivables, net			2,858		19,394		327
Deferred income taxes, net			2,443		11,726		—
Other current assets			27,779		17,643		95
Total current assets acquired			58,951		58,693		615
Noncurrent assets:
Property and equipment			8,141		7,335		6
Goodwill			40,549		122,247		7,113
Software	10 years		25,113		62,215		7,732
Customer relationships	14 - 15 years		47,400		68,750		—
Trademarks	3 - 5 years		3,000		3,050		—
Other noncurrent assets			7,269		459		7
Total assets acquired			190,423		322,749		15,473
Current liabilities:
Accounts payable			8,839		15,394		341
Employee compensation			15,006		10,549		261
Note payable			—		7,500		—
Other current liabilities			25,968		7,559		—
Total current liabilities acquired			49,813		41,002		602
Noncurrent liabilities:
Deferred income taxes, net			—		18,290		225
Other noncurrent liabilities			828		3,339		439
Total liabilities acquired			50,641		62,631		1,266
Net assets acquired		$	139,782	$	260,118	$	14,207

Pro Forma Results of Combined Company Operations

The pro forma financial information in the table below presents the combined results of operations for ACI, ORCC and OPAY as if the acquisitions had occurred January 1, 2012 (in thousands, except per share data). The pro forma information is shown for illustrative purposes only and is not necessarily indicative of future results of operations of the Company or results of operations of the Company that would have actually occurred had the transactions been in effect for the periods presented. This pro forma information is not intended to represent or be indicative of actual results had the acquisition occurred as of the beginning of each period, nor is it necessarily indicative of future results and does not reflect potential synergies, integration costs, or other such costs or savings. Certain pro forma adjustments have been made to net income for the three and six months ended June 30, 2013 to give effect to estimated adjustments to expenses to remove the amortization on eliminated OPAY and ORCC historical identifiable intangible assets and add amortization expense for the value of identified intangibles acquired in the acquisitions (primarily acquired software, customer relationships, trade names, and covenants not to compete), adjustments to interest expense to reflect the elimination of preexisting OPAY and ORCC debt and add estimated interest expense on the Company’s additional Term Credit Facility borrowings and to eliminate share-based compensation expense for eliminated positions. Additionally, certain transaction expenses that are a direct result of the acquisitions have been excluded from the three and six months ended June 30, 2013.

(in thousands, except per share data)	Pro Forma Results of Operations for the Three Months Ended		Pro Forma Results of Operations for the Six Months Ended
	June 30, 2013		June 30, 2013
Total Revenues	$	253,623	$	481,783
Net Income		5,487		2,372
Income per share
Basic	$	0.05	$	0.02
Diluted	$	0.05	$	0.02