Annual report pursuant to Section 13 and 15(d)

Systat Licensing Agreement (Tables)

v3.21.1
Systat Licensing Agreement (Tables)
12 Months Ended
Dec. 31, 2020
Business Combinations [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The purchase price was allocated and modified for measurement period adjustments due to the receipt of the valuation report and updated tax provision estimates as follows (in thousands):
Preliminary Allocation Valuation Measurement Period Adjustments Tax Provision Measurement Period Adjustments Adjusted Allocation
Assets Acquired:
Cash $ 70  $ —  $ —  $ 70 
Accounts receivable —  — 
Other current assets —  — 
Inventory —  — 
Fixed assets —  — 
Developed technology 1,523  (78) —  1,445 
Customer relationships 216  (31) —  185 
Non-compete agreements 49  —  —  49 
Goodwill 619  80  (46) 653 
$ 2,491  $ (29) $ (46) $ 2,416 
Liabilities Assumed:
Accounts payable $ 13  $ —  $ —  $ 13 
Accrued liabilities 48  —  —  48 
Deferred revenue 28  —  —  28 
Deferred tax liability 474  (29) (46) 399 
563  (29) (46) 488 
Total Purchase Price $ 1,928  $ —  $ —  $ 1,928 
The purchase price was allocated based on the receipt of a final valuation report as follows (in thousands):
Fair Value Allocation
Assets Acquired:
Developed technology $ 830 
Non-compete agreements 68 
Goodwill
Total Purchase Price $ 900 
The preliminary purchase price is allocated as follows (in thousands):
Fair Value Allocation
Assets Acquired:
Other receivable $ 44 
Developed technology 1,200 
Customer relationships 395 
Tradename & Trademarks 279 
Non-compete agreements 495 
Goodwill 520 
$ 2,933 
Liabilities Assumed:
Deferred Revenue $ 733 
733 
Total Purchase Price $ 2,200 
The preliminary purchase price is allocated as follows (in thousands):
Fair Value Allocation
Assets Acquired:
Developed technology $ 1,701 
Non-compete agreements 399 
Total Purchase Price $ 2,100 
The preliminary purchase price is allocated as follows (in thousands):
Fair Value Allocation
Assets acquired:
Cash and cash equivalents 301 
Trade and other receivables 576 
Inventory 827 
Prepaid expenses and other current assets 103 
Operating lease right-of-use asset 557 
Property, plant, and equipment 433 
Tradename 51 
Proprietary Technology 1,213 
Customer Relationships 1,055 
Non-compete Agreements 610 
In-Process R&D 505 
IP Agreement 178 
Goodwill 3,755 
Total assets acquired $ 10,164 
Liabilities assumed:
Accounts payable 526 
Lease liabilities 557 
Restructuring Costs 214 
Accrued Liabilities 361 
Total liabilities assumed 1,658 
Estimated fair value of net assets acquired: $ 8,506