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Acquisitions (Tables)
12 Months Ended
Dec. 31, 2015
Business Combinations [Abstract]  
Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed at Acquisition

The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the respective acquisition dates for ClientTell, Magnetic North and SharpSchool, and the final fair value of assets acquired and liabilities assumed for the SchoolReach, 911 Enable, Health Advocate and SchoolMessenger.

 

     ClientTell     Magnetic North     SharpSchool     SchoolReach     911 Enable     Health Advocate     SchoolMessenger  
(Amounts in thousands)                                          

Working Capital

  $ 503      $ 243      $ (1,042   $ (2,073   $ 596      $ 1,373      $ (9,751

Property and equipment

    429        574        782        342        59        7,439        1,574   

Other assets, net

    2        —          77        —          —          72        —     

Intangible assets

    26,300        16,361        9,092        7,350        20,685        151,990        40,145   

Goodwill

    14,967        24,579        8,254        6,923        21,289        156,014        50,386   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total assets acquired

    42,201        41,757        17,163        12,542        42,629        316,888        82,354   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Non-current deferred taxes

    —          3,050        —          —          —          43,034        4,231   

Long-term liabilities

    3,828        —          —          —          258        7,964        751   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total liabilities assumed

    3,828        3,050        —          —          258        50,998        4,982   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net assets acquired

  $ 38,373      $ 38,707      $ 17,163      $ 12,542      $ 42,371      $ 265,890      $ 77,372   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Summary of Unaudited Pro Forma Results of Operations

Assuming the 2015 acquisitions of ClientTell, Magnetic North, and SharpSchool and the 2014 acquisitions of SchoolReach, 911 Enable, Health Advocate and SchoolMessenger occurred as of the beginning of the period presented, our unaudited pro forma results of operations for the years ended December 31, 2015 and 2014, respectively, would have been as follows, in thousands:

 

     2015      2014  

Revenue

   $ 2,299,765       $ 2,303,678   

Income from continuing operations

   $ 189,880       $ 124,982   

Income per common share from continuing operations—basic

   $ 2.28       $ 1.49   

Income per common share from continuing operations—diluted

   $ 2.22       $ 1.46   

Assuming the acquisitions of SchoolReach, 911 Enable, Health Advocate and SchoolMessenger in 2014 occurred as of the beginning of the period presented, our unaudited pro forma results of operations for the year ended December 31, 2013 would have been as follows, in thousands:

 

     2013  

Revenue

   $ 2,242,789   

Income from continuing operations

   $ 101,959   

Income per common share from continuing operations—basic

   $ 1.29   

Income per common share from continuing operations—diluted

   $ 1.27