Acquisitions (Tables)

3 Months Ended

Mar. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisitions, by Acquisition

The following table sets forth the components and the allocation of the purchase price for the business combination and summarizes the fair values of the assets acquired and liabilities assumed at the Acquisition Date:

Total consideration:
Cash paid to Cloudways sellers	$	278,187
Cash contributed to escrow accounts	42,000
Other expenses	150
Less: Cash pre-funded from contingent compensation	(9,100)
Total consideration paid	$	311,237
Cash and cash equivalents	$	5,827
Accounts receivable	4,753
Prepayments and other current assets	547
Other long term assets	9
Identifiable intangible assets	72,000
Accounts payable	(1,820)
Accrued expenses	(957)
Deferred revenue	(1,013)
Deferred tax liabilities	(3,097)
Other current liabilities	(29,660)
Net identifiable assets acquired	46,589
Goodwill	264,648
Total fair value of net assets acquired	$	311,237

Schedule of Assets Acquired

The fair values allocated to the identifiable intangible assets and their estimated useful lives are as follows:

Intangible assets	Fair Value		Weighted Average Useful Life in Years
Trade name	$	9,500	10
Developed technology	31,500		5
Customer relationships	31,000		7
Total identifiable intangible assets	$	72,000

Business Acquisition, Pro Forma Information, Nonrecurring Adjustments

	Pro Forma Three Months Ended March 31, 2022
Pro-forma revenue	$	137,404
Pro-forma net loss	23,044