Subsequent Event

12 Months Ended

Dec. 31, 2016

18. Subsequent Event

On February 8, 2017, the Company and its wholly-owned subsidiary, Skyfence Networks Ltd., entered into an Asset Purchase Agreement with Forcepoint LLC, to sell the assets used in the Skyfence cloud access security broker business for total purchase price of approximately $40 million in cash, subject to potential working capital and other adjustments as are set forth in the Asset Purchase Agreement. The sale was completed on February 23, 2017.

We are in the process of finalizing the impact of the transaction on our financial statements, including evaluating the resulting gain that will be recognized, based on all the terms of the agreement. The following table presents our best estimate of the aggregate carrying amounts of the major classes of assets and liabilities related to the Skyfence business to be disposed of as of December 31, 2016:

	(dollars in thousands)
Assets
Accounts receivables	$	463
Prepaid and other current assets		15
Property and equipment, net		234
Goodwill		1,179
Acquired intangible assets, net		4,668
Total assets	$	6,559
Liabilities:
Accounts payable	$	163
Accrued and other current liabilities		76
Deferred revenue		1,334
Total liabilities	$	1,573