Quarterly report pursuant to Section 13 or 15(d)

Business Acquisition (Tables)

v3.21.1
Business Acquisition (Tables)
3 Months Ended
Apr. 30, 2021
Business Combinations [Abstract]  
Summary of Total Purchase Consideration

The total purchase consideration for the acquisition of Cloud Elements was $36.1 million, which consisted of the following (in thousands):

 

 

 

Amount

 

Cash

 

$

5,660

 

Fair value of common stock

 

 

30,446

 

Total

 

$

36,106

 

 

Summary of Preliminary Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed as of the acquisition date (in thousands):

 

 

 

March 19, 2021

 

Cash

 

$

162

 

Accounts receivable

 

 

743

 

Other assets

 

 

1,996

 

Intangible assets

 

 

11,200

 

Goodwill

 

 

30,465

 

Total assets acquired

 

 

44,566

 

Total liabilities assumed

 

 

(8,460

)

Total

 

$

36,106

 

Summary of Components of Identifiable Intangible Assets Acquired and Their Estimated Useful Lives

The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition:

 

 

 

Fair Value

 

 

Estimated Useful Life

 

 

 

(in thousands)

 

 

(in years)

 

Developed technology

 

$

6,600

 

 

 

5.0

 

Customer relationships

 

 

4,500

 

 

 

3.0

 

Trade name

 

 

100

 

 

 

3.0

 

Total

 

$

11,200