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Acquisitions (Tables)
12 Months Ended
Dec. 31, 2015
WAM Technologies, LLC [Member]  
Purchase Price Allocation for Acquisition

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

 

 

 

Amount

 

Accounts receivable

 

$

570

 

Property, plant and equipment

 

 

122

 

Intangible assets

 

 

4,810

 

Total identifiable assets acquired

 

 

5,502

 

Accounts payable and accrued expenses

 

 

202

 

Deferred revenues

 

 

7,326

 

Total liabilities assumed

 

 

7,528

 

Net identifiable assets acquired

 

 

(2,026

)

Goodwill

 

 

10,526

 

Total preliminary purchase price

 

$

8,500

 

 

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 - one customer

 

 

10

 

 

$

3,720

 

Customer lists - all other customers

 

 

11

 

 

 

600

 

Technology

 

 

10

 

 

 

450

 

Trademarks

 

 

2

 

 

 

40

 

 

 

 

 

 

 

$

4,810

 

 

InSync Software, Inc [Member]  
Purchase Price Allocation for Acquisition

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

 

 

 

Amount

 

Cash

 

$

288

 

Accounts receivable

 

 

1,141

 

Other current assets

 

 

204

 

Deferred tax assets

 

 

2,342

 

Property, plant and equipment

 

 

51

 

Intangible assets

 

 

5,788

 

Other noncurrent assets

 

 

55

 

Total identifiable assets acquired

 

 

9,869

 

Accounts payable and accrued expenses

 

 

1,080

 

Deferred revenues

 

 

296

 

Deferred tax liabilities

 

 

2,342

 

Total liabilities assumed

 

 

3,718

 

Net identifiable assets acquired

 

 

6,151

 

Goodwill

 

 

5,491

 

Total preliminary purchase price

 

$

11,642

 

 

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

 

 

14

 

 

$

5,056

 

Technology

 

 

10

 

 

 

632

 

Trademarks

 

 

4

 

 

 

100

 

 

 

 

 

 

 

$

5,788

 

 

SkyWave Mobile Communications Inc. [Member]  
Purchase Price Allocation for Acquisition

The purchase price allocation for the acquisition, net of the assets transferred to Inmarsat, is as follows:

 

 

 

Amount

 

Cash

 

$

110

 

Accounts receivable

 

 

13,898

 

Inventory

 

 

1,335

 

Other current assets

 

 

2,180

 

Property, plant and equipment

 

 

4,769

 

Intangible assets

 

 

67,214

 

Other noncurrent assets

 

 

6,108

 

Total identifiable assets acquired

 

 

95,614

 

Accounts payable and accrued expenses

 

 

9,987

 

Deferred revenues

 

 

1,070

 

Other liabilities

 

 

1,168

 

Deferred tax liabilities

 

 

17,527

 

Total liabilities assumed

 

 

29,752

 

Net identifiable assets acquired

 

 

65,862

 

Goodwill

 

 

56,511

 

Total purchase price

 

$

122,373

 

 

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

 

 

10

 

 

$

59,371

 

IDP Technology

 

 

10

 

 

 

5,463

 

M2M and DGS Technology

 

 

5

 

 

 

1,318

 

Trademarks

 

 

5

 

 

 

1,062

 

 

 

 

 

 

 

$

67,214

 

 

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

The final purchase price allocation for the acquisition is as follows:

 

 

 

Amount

 

Cash

 

$

280

 

Accounts receivable

 

 

2,997

 

Inventory

 

 

1,385

 

Other current assets

 

 

540

 

Property, plant and equipment

 

 

324

 

Intangible assets

 

 

17,400

 

Other noncurrent assets

 

 

543

 

Total identifiable assets acquired

 

 

23,469

 

Accounts payable and accrued expenses

 

 

2,614

 

Deferred revenues

 

 

44

 

Deferred tax liabilities

 

 

4,558

 

Total liabilities assumed

 

 

7,216

 

Net identifiable assets acquired

 

 

16,253

 

Goodwill

 

 

19,952

 

Total 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

 

 

SENS [Member]  
Purchase Price Allocation for Acquisition

The final 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 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

 

 

GlobalTrak [Member]  
Purchase Price Allocation for Acquisition

The final purchase price allocation for the acquisition is as follows:

 

Cash and cash equivalents

 

$

1,204

 

Accounts receivable

 

 

343

 

Inventory

 

 

1,023

 

Other current assets

 

 

405

 

Equipment

 

 

13

 

Intangible assets

 

 

500

 

Total identifiable assets acquired

 

 

3,488

 

Accounts payable and accrued expenses

 

 

879

 

Deferred revenues

 

 

1,707

 

Warranty

 

 

45

 

Total liabilities assumed

 

 

2,631

 

Net identifiable assets acquired

 

 

857

 

Goodwill

 

 

2,047

 

Total purchase price

 

$

2,904

 

 

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

(in years)

 

 

Amount

 

Technology

 

 

10

 

 

$

380

 

Trade names and trademarks

 

 

5

 

 

 

70

 

Customer lists

 

 

5

 

 

 

50

 

 

 

 

 

 

 

$

500

 

 

MobileNet [Member]  
Purchase Price Allocation for Acquisition

The final purchase price allocation for the acquisition is as follows:

 

Accounts receivable

 

$

363

 

Inventory

 

 

255

 

Other current assets

 

 

10

 

Intangible assets

 

 

3,460

 

Total identifiable assets acquired

 

 

4,088

 

Accrued expenses

 

 

238

 

Deferred revenues

 

 

346

 

Total liabilities assumed

 

 

584

 

Net identifiable assets acquired

 

 

3,504

 

Goodwill

 

 

2,900

 

Total purchase price

 

$

6,404

 

 

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

(in years)

 

 

Amount

 

Customer lists

 

 

10

 

 

$

2,600

 

Technology

 

 

10

 

 

 

730

 

Trademarks

 

 

5

 

 

 

130

 

 

 

 

 

 

 

$

3,460

 

 

WAM Technologies, LLC and SkyWave Mobile Communications Inc. [Member]  
Summary of Pro Forma Results of Operation

The following tables present the unaudited pro forma consolidated operating results for the Company, as though the SkyWave Acquisition and WAM Acquisition had occurred as of the beginning of the prior annual reporting period. The unaudited pro forma results reflect certain adjustments related to past operating performance, the impact of the debt issued, acquisition costs and acquisition accounting adjustments, such as increased depreciation and amortization expense based on the fair valuation of assets acquired and the related tax effects. The pro forma results do not include any anticipated synergies which may be achievable subsequent to the acquisition date. Accordingly, such pro forma amounts are not necessarily indicative of the results that actually would have occurred had the acquisition been completed on the dates indicated, nor are they indicative of the future operating results of the combined company:

 

 

 

Year ended December 31, 2015

 

 

 

As Reported

 

WAM Acquisition

 

Pro Forma

 

Net revenues

 

$

178,293

 

$

5,234

 

$

183,527

 

Net (loss) income attributable to common shareholders

 

$

(13,287

)

$

1,074

 

$

(12,213

)

Earnings per share:

 

 

 

 

 

 

 

 

 

 

Basic

 

$

(0.19

)

 

 

 

$

(0.17

)

Diluted

 

$

(0.19

)

 

 

 

$

(0.17

)

 

 

 

 

Year ended December 31, 2014

 

 

 

As Reported

 

SkyWave Acquisition

 

WAM Acquisition

 

Pro Forma

 

Net revenues

 

$

96,242

 

$

65,838

 

$

5,655

 

$

167,735

 

Net income attributable to common shareholders

 

$

(4,721

)

$

(4,684

)

$

906

 

$

(8,499

)

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

(0.08

)

 

 

 

 

 

 

$

(0.15

)

Diluted

 

$

(0.08

)

 

 

 

 

 

 

$

(0.15

)