Acquisition (Tables)

9 Months Ended

Jan. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Summary of Net Assets Acquired

The following table provides a summary of the net assets acquired:

	(in thousands)
Current assets (1)	$	19,932
Long-term assets	1,496
Intangible assets (2)	16,400
Current liabilities	6,248
Long-term liabilities	566
Net assets acquired	31,014
Purchase price	99,322
Goodwill (3)	$	68,308

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(1)	Included in current assets is acquired receivables in the amount of $19.4 million.
(2)	Acquisition-related intangible assets acquired in connection with the acquisition consists of customer relationships and tradenames of $15.3 million, and $1.1 million, respectively, with weighted-average useful lives from the date of purchase of seven years, and two years, respectively.
(3)	Tax deductible goodwill from the acquisition was $66.0 million as of January 31, 2023.