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Consolidated Core Businesses (Tables)
 9 Months Ended
Sep. 30, 2013
Allocation of Purchase Price for Acquisitions and Enterprise Value of Channel Intelligence

The allocations of the purchase price related to the acquisition of MSDSonline and Superior Access and the allocation of the value upon consolidation of Bolt to identified intangible assets and tangible assets and liabilities are as follows (in thousands):

 

 

 

MSDSonline

 

 

 

Bolt

 

 

 

Superior Access

 

Net assets acquired:

 

 

 

 

 

 

 

 

 

 

 

Goodwill             

$

  15,847

 

 

$

  68,253

 

 

$

  1,177

 

Customer lists (5-11 year life)

 

  20,440

 

 

 

  6,800

 

 

 

  5,200

 

Trademarks, trade names and domain names (5-11 year life)

 

  6,800

 

 

 

  6,400

 

 

 

  1,300

 

Technology (5 year life)             

 

  1,900

 

 

 

  4,300

 

 

 

  1,300

 

Non-compete agreements (3 year life)             

 

  3,580

 

 

 

—

 

 

 

—

 

Other net assets (liabilities)

 

  1,170

 

 

 

(5,150

) 

 

 

  23

 

 

 

  49,737

 

 

 

  80,603

 

 

 

  9,000

 

Noncontrolling interest (1)             

 

(1,355

) 

 

 

(31,824

) 

 

 

—

 

 

$

  48,382

 

 

$

  48,779

 

 

$

  9,000

 

(1)              ICG estimated the fair value of the noncontrolling interest in Bolt and MSDSonline with consideration of discounts for lack of control and lack of marketability. See “Redeemable Noncontrolling Interest” in this Note 4 with respect to MSDSonline.

 

 
Reconciliation of Activity Related to Redeemable Noncontrolling Interest

The following reconciles the activity related to the redeemable noncontrolling interest during the nine months ended September 30, 2013 and 2012 (in thousands):

 

Balance at December 31, 2011             

$

  1,378

  

Redeemable noncontrolling interest portion of subsidiary net (income)/loss             

 

(132

) 

Accretion to estimated redemption value             

 

  345

  

Acquisition of MSDSonline             

 

  1,309

 

Impact of subsidiary equity transactions             

 

  6

 

Balance at September 30, 2012             

$

  2,906

  

 

 

 

 

Balance at December 31, 2012             

$

  3,383

  

Redeemable noncontrolling interest portion of subsidiary net (income)/loss             

 

(95

) 

Accretion to estimated redemption value             

 

  675

  

Balance at September 30, 2013             

$

  3,963

  

 
Pro Forma Information

The information in the following table represents revenue, net income (loss) attributable to ICG Group, Inc. and net income (loss) per diluted share attributable to ICG Group, Inc. for the relative periods, had ICG consolidated MSDSonline and Bolt (including Bolt’s acquisition of Superior Access) in each of those periods.

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

2013

 

 

2012

 

 

2013

 

 

2012

 

 

(in thousands, except per share data)

 

Revenue             

$

  17.3

  

  

$

  12.9

  

  

$

  48.3

  

  

$

  34.5

  

Net income (loss) attributable to ICG Group, Inc.             

$

(3.3

)

  

$

  20.9

 

  

$

  9.0

  

  

$

  6.3

 

Net income (loss) per diluted share attributable to ICG Group, Inc.             

$

(0.09

)

  

$

  0.57

 

  

$

  0.25

  

  

$

  0.17