Acquisition (Tables)

6 Months Ended

Jun. 30, 2013

tax liabilities. The preliminary purchase price allocation is as follows (in thousands):


Purchase price	$	46,683
Less: acquired cash		(8,856	)

Purchase price, net of acquired cash		37,827

Accounts receivable		3,538
Intangible assets		13,255
Other assets		1,718
Deferred tax liability, net		(2,342	)
Accounts payable, accrued expenses and deferred revenue		(4,576	)

Goodwill	$	26,234

Summary of Acquired Intangible Assets

The acquired intangible assets are as follows (in thousands, except for useful lives):


	Costs		Useful Lives
Customer relationships	$	5,455	10-15 years
Internally developed software		5,000	3 years
Tradename- indefinite life		1,820	indefinite
Tradename- finite life		300	3 years
Non-compete agreement		380	3 years
Other		300	indefinite

Total	$	13,255

Pro forma Financial Information

The pro forma financial information includes the amortization charges from acquired intangible assets, adjustments to interest income to reflect the cash purchase price and related tax effects.


	Pro forma
	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2012		2013		2012
	(In thousands, except per share amounts)
Revenues	$	55,096	$	125,040	$	112,273
Income before income taxes	$	20,867	$	55,860	$	43,587
Net income	$	12,423	$	34,685	$	25,886
Basic net income per common share	$	0.34	$	0.94	$	0.71
Diluted net income per common share	$	0.33	$	0.92	$	0.68