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Acquisitions (Tables)
3 Months Ended
Mar. 31, 2014
Summary of Estimated Fair Values of Purchase Price

The following table summarizes the fair value of the purchase price:

 

Cash

   $ 29,163   

Issuance of 291,230 shares of common stock (valued at $7.70 per share, which reflects the Company’s common stock closing price on March 11, 2014)

     2,242   

Fair value of contingent earn-out amounts

     4,800   
  

 

 

 

Total

   $ 36,205   
  

 

 

Summary of Supplemental Pro Forma Results of GlobalTrak

The supplemental pro forma revenues, net income (loss) attributable to ORBCOMM Inc. and the net income (loss) attributable to common stockholders for the period from January 1, 2013 through March 31, 2013 presented in the table below were adjusted to include the amortization of the intangible assets and income tax expense calculated from January 1, 2013 to the acquisition date. Also the supplemental pro forma information was adjusted to exclude acquisition costs directly related to GlobalTrak.

 

                  Net Income (loss)  
            Net Income (loss)     Attributable to  
            Attributable     ORBCOMM Inc.  
     Revenues      ORBCOMM Inc.     Common Stockholders  

Actual for the three months ended March 31, 2014

   $ 771       $ (586   $ (586
  

 

 

    

 

 

   

 

 

 

Supplemental pro forma for the three months ended March 31, 2013

   $ 17,384       $ 437      $ 421   
  

 

 

    

 

 

   

 

 

 
SENS [Member]
 
Purchase Price Allocation for Acquisition

The preliminary estimated purchase price allocation for the acquisition is as follows:

 

Inventory

     485   

Intangible assets

     1,270   
  

 

 

 

Total identifiable assets acquired

     1,755   

Accounts payable and accrued expenses

     (8
  

 

 

 

Net identifiable assets acquired

     1,747   
  

 

 

 

Goodwill

     231   
  

 

 

 

Total preliminary purchase price

   $ 1,978   
  

 

 

 
Summary of Useful Lives of Customer Relationships Based on Customer Attrition

The remaining useful lives of customer lists were based on the customer attrition and the projected economic benefit of these customers.

 

     Estimated         
     Useful life         
     (years)      Amount  

Customer lists

     7       $ 980   

Technology

     10         260   

Trademarks

     3         30   
     

 

 

 
      $ 1,270   
     

 

 

 
Euroscan Holdings B.V. [Member]
 
Purchase Price Allocation for Acquisition

The preliminary estimated purchase price allocation for the acquisition is as follows:

 

Cash

   $ 280   

Accounts receivable

     2,613   

Inventory

     1,394   

Other current assets

     502   

Property, plant and equipment

     324   

Intangible assets

     17,400   

Other noncurrent assets

     171   
  

 

 

 

Total identifiable assets acquired

     22,684   
  

 

 

 

Accounts payable and accrued expenses

     (2,503

Deferred revenues

     (44

Deferred tax liabilities

     (4,558
  

 

 

 

Total liabilities assumed

     (7,105
  

 

 

 

Net identifiable assets acquired

     15,579   

Goodwill

     20,626   
  

 

 

 

Total preliminary purchase price

   $ 36,205   
  

 

 

 
Summary of Useful Lives of Customer Relationships Based on Customer Attrition

The remaining useful lives of customer lists were based on the customer attrition and the projected economic benefit of these customers.

 

     Estimated         
     Useful life         
     (years)      Amount  

Customer lists

     12       $ 14,400   

Technology

     10         2,400   

Trademarks

     10         600   
     

 

 

 
      $ 17,400