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Acquisition Related Liabilities
6 Months Ended
Jun. 30, 2022
Acquisition Related Liabilities [Abstract]  
Acquisition Related Liabilities
6.
Acquisition Related Liabilities

The following is a summary of acquisition related liabilities:

 

 

 

eBay CRM

 

 

Sizmek

 

 

IgnitionOne

 

 

Kinetic

 

 

Vital

 

 

Apptness

 

 

ArcaMax

 

 

Total

 

Balance as of January 1, 2022

 

$

8,000

 

 

$

1,927

 

 

$

1,360

 

 

$

24

 

 

$

2,840

 

 

$

8,806

 

 

$

-

 

 

$

22,957

 

Additions

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

7,539

 

 

 

7,539

 

Payments made during the period

 

 

-

 

 

 

(2,168

)

 

 

-

 

 

 

(205

)

 

 

(105

)

 

 

-

 

 

 

-

 

 

 

(2,478

)

Change in fair value of earn-out

 

 

-

 

 

 

241

 

 

 

-

 

 

 

791

 

 

 

337

 

 

 

8,160

 

 

 

1,266

 

 

 

10,795

 

Balance as of June 30, 2022

 

$

8,000

 

 

$

-

 

 

$

1,360

 

 

$

610

 

 

$

3,072

 

 

$

16,966

 

 

$

8,805

 

 

$

38,813

 

 

The changes in the fair value of the acquisition related liabilities are included in other expenses on the condensed unaudited consolidated statements of operations and comprehensive loss.

The Company is a party to a litigation matter in relation to certain acquisition related liabilities for its eBay CRM acquisition dated November 2, 2015. The Company has recorded a liability of $8,000 as of June 30, 2022 which is still being contested by the Company and in view of the numerous legal, technical and factual issues involved in these lawsuits, the Company may resolve the remaining liabilities in any amount higher or lower than the accruals.

On March 10, 2022, the Company entered into a settlement agreement with the sellers of Sizmek to resolve the dispute related to the contingent purchase consideration payable in connection with the Sizmek acquisition made during the year ended December 31, 2019. As such, the Company paid $1,085 in cash and issued 100,000 shares of Class A common stock valued at $1,083, during the six months ended June 30, 2022. As a result of this settlement, the Company accrued an additional amount of $241 during the six months ended June 30, 2022, which was recorded as a change in fair value of earn-out under other expenses on the condensed unaudited consolidated statements of operations and comprehensive loss.