XML 33 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6
Subsequent Event (Notes)
1 Months Ended
May 31, 2013
Subsequent Events [Abstract]  
Subsequent Events [Text Block]
Subsequent Event

On May 10, 2013, the Company purchased all of the outstanding equity interests of Millbrook, Inc., a privately held provider of data management and business intelligence solutions for P&C insurers. Total consideration for the transaction was $18.5 million, consisting of approximately $14.8 million in cash and $3.7 million in RSUs. These RSUs will be subject to time-based vesting. The Company believes that the addition of Millbrook's technology will enable the Company's customers to accelerate replacement of their legacy core systems and to improve management of operational data in their policy, billing, and claims functions. The results of Millbrook's operations from May 10, 2013 to July 31, 2013 will be included in the Company's results for the fourth quarter of fiscal 2013. This transaction will be accounted for as a business combination and preliminary purchase price allocation will be included in the Company's fourth quarter results.