XML 57 R44.htm IDEA: XBRL DOCUMENT v3.10.0.1
BUSINESS ACQUISITION (Details - 2018 Acquisitions)
3 Months Ended 9 Months Ended
Jul. 23, 2018
USD ($)
Jun. 11, 2018
USD ($)
payment
Sep. 19, 2017
USD ($)
payment
Jun. 14, 2017
USD ($)
payment
Nov. 17, 2016
USD ($)
payment
Sep. 30, 2018
USD ($)
Sep. 30, 2017
USD ($)
Sep. 30, 2018
USD ($)
segment
Sep. 30, 2017
USD ($)
Dec. 31, 2017
USD ($)
Nov. 16, 2016
USD ($)
Consideration Transferred                      
Goodwill           $ 166,330,000   $ 166,330,000   $ 113,368,000  
Fair Value of Intangible Assets                      
Severance expense           2,328,000 $ 0 $ 2,331,000 $ 404,000    
Number of reportable segments | segment               1      
Acquisition related costs               $ 1,000,000      
Change in fair value of contingent consideration           2,105,000 $ 2,501,000 1,197,000 20,640,000    
Student Loan Hero                      
Consideration Transferred                      
Net working capital           5,159,000   5,159,000      
Intangible assets           19,900,000   19,900,000      
Goodwill           41,682,000   41,682,000      
Net deferred tax liabilities           (6,323,000)   (6,323,000)      
Total preliminary purchase price $ 60,418,000                    
Fair Value of Intangible Assets                      
Preliminary Fair Value $ 19,900,000                    
Weighted Average Amortization Life 4 years                    
Initial cash consideration to acquire business $ 60,700,000                    
Severance expense 2,328,000                    
Estimated increase to working capital 2,000,000                    
Acquisition related costs           200,000   500,000      
Ovation                      
Consideration Transferred                      
Net working capital           323,000   323,000      
Intangible assets           8,900,000   8,900,000      
Goodwill           11,280,000   11,280,000      
Net deferred tax liabilities           (2,708,000)   (2,708,000)      
Fixed assets           76,000   76,000      
Total preliminary purchase price   $ 17,871,000                  
Fair Value of Intangible Assets                      
Preliminary Fair Value   $ 8,900,000                  
Weighted Average Amortization Life   5 years 5 months                  
Initial cash consideration to acquire business   $ 12,200,000                  
Contingent consideration   5,800,000       6,700,000   6,700,000      
Estimated increase to working capital   $ 100,000                  
Acquisition related costs           100,000   400,000      
Number of payments | payment   2                  
Change in fair value of contingent consideration               900,000      
CompareCards                      
Consideration Transferred                      
Total preliminary purchase price         $ 103,800,000            
Fair Value of Intangible Assets                      
Initial cash consideration to acquire business         $ 80,700,000            
Contingent consideration                     $ 23,100,000
Number of payments | payment         2            
Contingent consideration range, maximum                     45,000,000
Change in fair value of contingent consideration               700,000      
DepositAccounts                      
Consideration Transferred                      
Total preliminary purchase price       $ 29,000,000              
Fair Value of Intangible Assets                      
Initial cash consideration to acquire business       24,000,000       0 25,000,000    
Contingent consideration       $ 5,000,000              
Number of payments | payment       7              
Contingent consideration range, maximum       $ 9,000,000              
Change in fair value of contingent consideration           100,000   1,400,000      
SnapCap                      
Consideration Transferred                      
Total preliminary purchase price     $ 18,200,000                
Fair Value of Intangible Assets                      
Initial cash consideration to acquire business     11,900,000         10,000 $ 11,886,000    
Contingent consideration     $ 6,300,000     5,200,000   5,200,000      
Number of payments | payment     3                
Change in fair value of contingent consideration           $ 1,100,000   $ 1,800,000      
Technology | Ovation                      
Fair Value of Intangible Assets                      
Preliminary Fair Value   $ 6,000,000                  
Weighted Average Amortization Life   7 years                  
Website content | Student Loan Hero                      
Fair Value of Intangible Assets                      
Preliminary Fair Value $ 16,400,000                    
Weighted Average Amortization Life 3 years                    
Customer lists | Student Loan Hero                      
Fair Value of Intangible Assets                      
Preliminary Fair Value $ 2,500,000                    
Weighted Average Amortization Life 10 years                    
Customer lists | Ovation                      
Fair Value of Intangible Assets                      
Preliminary Fair Value   $ 1,900,000                  
Weighted Average Amortization Life   1 year                  
Trademarks and tradenames | Student Loan Hero                      
Fair Value of Intangible Assets                      
Preliminary Fair Value $ 1,000,000                    
Weighted Average Amortization Life 5 years                    
Trademarks and tradenames | Ovation                      
Fair Value of Intangible Assets                      
Preliminary Fair Value   $ 1,000,000                  
Weighted Average Amortization Life   4 years                  
Contingent earnout | Ovation                      
Fair Value of Intangible Assets                      
Contingent consideration range, minimum   $ 0                  
Contingent consideration range, maximum   $ 4,375,000                  
Contingent earnout | CompareCards                      
Fair Value of Intangible Assets                      
Contingent consideration range, maximum                     $ 22,500,000
Contingent earnout | SnapCap                      
Fair Value of Intangible Assets                      
Contingent consideration range, minimum     $ 0                
Contingent consideration range, maximum     $ 3,000,000