Investment in Unconsolidated Affiliate

6 Months Ended

Jun. 30, 2016

Investments in and Advances to Affiliates, Schedule of Investments

Investment in Unconsolidated Affiliate

4. Investment in Unconsolidated Affiliate

On April 28, 2016, the Company invested $2.0 million for a noncontrolling interest in Binary Fountain, Inc. (“Binary Fountain”). The Company does not exercise significant influence over Binary Fountain and is not the primary beneficiary of Binary Fountain’s activities, and, therefore, has accounted for this investment under the cost method. The fair value of cost method investments is not estimated if there are no identified events or changes in circumstances that may have a significant adverse effect on the fair value of the investment. The investment in Binary Fountain is included in other non-current assets in the Condensed Consolidated Balance Sheet as of June 30, 2016.