Subsequent Events

6 Months Ended

May 31, 2017

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On June 1, 2017, we acquired by merger 100% of the outstanding securities of Kinvey, Inc. (Kinvey) for an aggregate sum of $49.0 million, which includes approximately $0.3 million held-back for the founder of Kinvey as an incentive for the founder to remain with the Company for at least two years following the acquisition. Kinvey is a privately-held company providing Backend-as-a-Service (BaaS), which allows developers to set up, use, and operate a cloud backend for any native, hybrid, web, or IoT app built using any development tools. This acquisition, in combination with our existing frontend technologies, including NativeScript and Kendo UI, along with cognitive capabilities from DataRPM and our strong data connectivity technologies, enables us to offer a premier platform for building and delivering cognitive business applications to both new customers and partners as well as our existing OpenEdge partner and customer ecosystems. As a result of the timing of the transaction, the initial accounting for the business combination was incomplete through the date that our condensed consolidated financial statements were issued. Results of operations for Kinvey will be included in our consolidated financial statements as part of the OpenEdge business segment from the date of acquisition.