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Subsequent Events
12 Months Ended
Dec. 31, 2015
Subsequent Events [Abstract]  
Subsequent Events
18. Subsequent Events
The Company has evaluated subsequent events through the date the consolidated financial statements were available for issuance.
On January 7, 2016, Upland completed its purchase of substantially all of the assets of a California-based
website analytics provider. The purchase price consideration paid was approximately $8.2 million in cash
payable at closing (net of $0.2 million of cash acquired) and a $1.2 million cash holdback payable in 12 months
(subject to indemnification claims). The foregoing excludes additional potential earnout payments tied to
performance-based conditions.

In addition to the cash consideration described above, the Asset Purchase Agreement included a
contingent share consideration component pursuant to which Upland expects to issue an aggregate of
approximately $2.4 million in common stock (to be determined on trigger date) of its common stock to the seller after July 7, 2016 based on certain minimal post-closing performance-based conditions.

On March 14, 2016, Upland completed its purchase of substantially all of the assets of Hipcricket, Inc., a
cloud-based mobile messaging software provider. The consideration paid to the seller consisted of our issuance of
one million shares of our common stock and the transfer of our EPM Live product business. The value of the
shares on the closing date of the transaction was approximately $6.2 million and the residual value of our EPM Live product business was approximately $6.0 million. The Company is currently evaluating whether a gain or loss will be recognized in conjunction with the EPM Live net asset value. Prior to the transaction, Hipcricket was owned by an affiliate of ESW Capital, LLC, which is a shareholder of Upland. Raymond James & Co. provided a fairness opinion to Upland in connection with the transaction.

The Company recorded the purchase of the acquisitions described above using the acquisition method of accounting and, accordingly, recognized the assets acquired and liabilities assumed at their fair values as of the date of the acquisition. The purchase price allocations for the 2016 acquisitions are preliminary as the Company has not obtained and evaluated all of the detailed information necessary to finalize the opening balance sheet amounts in all respects. Management has recorded the purchase price allocations based upon acquired company information that is currently available. Management expects to finalize its purchase price allocations in mid-2016.