Business Combination (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Preliminary Allocation of Purchase Consideration to Tangible and Intangible Assets Acquired and Liabilities Assumed

The preliminary allocation of the purchase consideration to tangible and intangible assets acquired and liabilities assumed is based on estimated fair values and is as follows (in thousands):

Assets acquired	Fair Values
Cash and cash equivalents	$	7
Accounts receivable		4,875
Prepaid and other current assets		7,310
Property and equipment, net		307
Intangible assets:
Tradename		20,000
Customer relationships		700
Goodwill		47,626
Operating lease right-of-use assets		5,498
Other long-term assets		23,487
Total assets acquired		109,810
Liabilities assumed
Accounts payable and accrued liabilities		(2,747	)
Deferred revenue, current		(4,146	)
Operating lease liabilities		(4,262	)
Deferred revenue, non-current		(816	)
Other long-term liabilities		(28	)
Total liabilities assumed		(11,999	)
Total purchase consideration	$	97,811

Summary of Valuation of Intangible Assets Acquired

The valuation of the intangible assets acquired from This Old House along with their estimated useful lives, is as follows (in thousands):

	Estimated Fair Value		Estimated Useful Lives (in years)
Tradename	$	20,000	10
Customer relationships		700	4
Estimated fair value of acquired intangible assets	$	20,700