BUSINESS ACQUISITION (Tables)

6 Months Ended

Jun. 30, 2019

Business Combinations [Abstract]

Schedule of purchase price allocation

The acquisition has been accounted for as a business combination. The preliminary allocation of purchase price to the assets acquired and liabilities assumed is as follows (in thousands):

	Preliminary Fair Value
Net working capital	$	2,796
Fixed assets	68
Intangible assets	31,600
Goodwill	71,444
Net noncurrent assets	324
Total purchase price	$	106,232

The acquisition has been accounted for as a business combination. The preliminary allocation of purchase price to the assets acquired and liabilities assumed is as follows (in thousands):

	Preliminary Fair Value
Net working capital	$	8,381
Fixed assets	1,509
Intangible assets	120,400
Goodwill	183,036
Other noncurrent assets	29
Total purchase price	$	313,355

In the second quarter of 2019, the Company completed the determination of the final allocation of purchase price to the assets acquired and liabilities assumed as follows (in thousands):

	Fair Value
Net working capital	$	303
Fixed assets	76
Intangible assets	8,900
Goodwill	11,280
Net deferred tax liabilities	(2,688		)
Total purchase price	$	17,871

Schedule of the fair value of definite lived intangible assets acquired

The fair value of the intangible assets with definite lives are as follows (dollars in thousands):

	Preliminary Fair Value		Weighted Average Amortization Life
Technology	$	68,900	4 years
Customer lists	42,700		14.7 years
Content	1,000		3 years
Trademarks and tradenames	7,800		5 years
Total intangible assets	$	120,400	7.9 years

The fair value of the intangible assets with definite lives are as follows (dollars in thousands):

	Preliminary Fair Value		Weighted Average Amortization Life
Technology	$	4,200	3 years
Content	26,100		3 years
Trademarks and tradenames	1,300		5 years
Total intangible assets	$	31,600	3.1 years

The fair value of the intangible assets with definite lives are as follows (dollars in thousands):

	Fair Value		Weighted Average Amortization Life
Technology	$	6,000	7 years
Customer lists	1,900		1 year
Trademarks and tradenames	1,000		4 years
Total intangible assets	$	8,900	5.4 years

Unaudited pro forma revenue and net income from continuing operations of business acquisitions

	Three Months Ended June 30,		Six Months Ended June 30,
	2018		2019		2018
	(in thousands)
Pro forma revenue	$	234,264	$	541,326	$	464,148
Pro forma net income from continuing operations	$	44,314	$	13,250	$	79,902

	Three Months Ended June 30, 2018		Six Months Ended June 30, 2018
	(in thousands)
Pro forma revenue	$	221,839	$	440,596
Pro forma net income from continuing operations	$	42,813	$	78,413