Acquisitions (Tables)

9 Months Ended

Sep. 30, 2014

Fair value of purchase price and allocation for net assets acquired

The estimated fair value of the purchase price recorded by us consisted of the following (in thousands):



Cash purchase price	$	9,000
Fair value of contingent consideration	5,345
Estimated working capital adjustment	(91		)
Total purchase price	$	14,254

The preliminary purchase price allocation for the net assets acquired is as follows (in thousands):



Cash	$	334
Accounts receivable	1,283
Prepaid expenses and other assets	496
Property and equipment	80
Amortizable intangible assets	1,613
Goodwill	12,338
Total assets acquired	$	16,144

Accounts payable, accrued expenses and other liabilities	$	582
Billings in excess of costs and estimated earnings on uncompleted contracts	940
Deferred tax liability	368
Total liabilities assumed	1,890
Net assets acquired	$	14,254

Summary of potential contingent consideration

Below is a summary of the potential contingent consideration we may be required to pay in connection with completed acquisitions as of September 30, 2014 (dollars in thousands):



	Original range
	of potential undiscounted	As of September 30, 2014 Maximum contingent consideration due in
Acquisition:	payments	2014		2015		2016		Total
Prospero	$0 - $4,482	$	—	$	1,793	$	—	$	1,793
Effective Companies	$0 - $5,920	—		2,960		2,960		5,920
Total		$	—	$	4,753	$	2,960	$	7,713

Summary of changes in recorded amount of contingent consideration

Below is a summary of the changes in the recorded amount of contingent consideration liabilities from December 31, 2013 to September 30, 2014 for each acquisition (dollars in thousands):



	Liability as of December 31,		Additions			Change in Fair Value of Contingent			Foreign Currency			Liability as of September 30,
Acquisition:	2013		(Payments)			Consideration			Translation			2014
Bath Consulting	$	997	$	(1,005	)	$	—		$	8		$	—
Prospero	1,841		—			(1,796		)	(45		)	—
Lorien	959		(1,015		)	31			25			—
Effective Companies	—		5,345			252			(412		)	5,185
Total	$	3,797	$	3,325		$	(1,513	)	$	(424	)	$	5,185