Acquisition (Tables)

3 Months Ended

Mar. 31, 2014

The 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		3,733
Intangible assets		13,255
Other assets		1,718
Deferred tax liability, net		(2,342	)
Accounts payable, accrued expenses and deferred revenue		(4,622	)

Goodwill	$	26,085

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.


	Three Months Ended March 31, 2013
	(In thousands, except per share amounts)
Revenues	$	57,575
Income before income taxes	$	24,707
Net income	$	15,561
Basic net income per common share	$	0.42
Diluted net income per common share	$	0.41