Acquisition (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Summary of Preliminary Purchase Price Allocation

The Company has completed a preliminary allocation of the purchase price to the fair value of assets acquired and liabilities assumed at the date of acquisition. The Company utilized an independent third-party to determine the fair value of the acquired intangible assets. It is possible that the purchase price allocation will be adjusted upon finalization of the accounting for the acquired assets. The preliminary purchase price allocation is as follows (in thousands):

Purchase price	$	152,677
Less: acquired cash		(2,935	)
Purchase price, net of acquired cash		149,742
Accounts receivable		(1,811	)
Intangible assets		(58,780	)
Prepaid expenses and other assets		(4,168	)
Accounts payable, accrued expenses and other liabilities		2,165
Goodwill	$	87,148

Summary of Acquired Intangible Assets

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

	Costs		Useful Lives
Customer relationships	$	58,690	15 years
Tradename - finite life		90	1 year
Total	$	58,780