Business Combinations (Tables)

6 Months Ended

May 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisitions, by Acquisition

The allocation of the purchase price is as follows (in thousands):

	Initial Purchase Price Allocation		Measurement Period Adjustments		Adjusted Purchase Price Allocation		Life
Net working capital	$	27,075	$	(772)	$	26,303
Property, plant and equipment	803		(8)		795
Purchased technology	39,400		—		39,400		5 years
Trade name	7,200		—		7,200		5 years
Customer relationships	75,500		—		75,500		5 years
Other assets	170		27		197
Other noncurrent liabilities	(604)		(1,133)		(1,737)
Deferred taxes	(23,187)		—		(23,187)
Deferred revenue	(29,997)		—		(29,997)
Goodwill	179,521		1,886		181,407
Net assets acquired	$	275,881	$	—	$	275,881

The allocation of the purchase price is as follows (in thousands):

	Initial Purchase Price Allocation		Measurement Period Adjustments		Final Purchase Price Allocation		Life
Net working capital	$	52,330	$	147	$	52,477
Property, plant and equipment	498		—		498
Purchased technology	38,300		—		38,300		5 years
Trade name	5,700		—		5,700		5 years
Customer relationships	97,300		—		97,300		7 years
Other assets	122		—		122
Other noncurrent liabilities	(841)		—		(841)
Lease liabilities, net	(1,810)		—		(1,810)
Deferred taxes	(7,817)		126		(7,691)
Deferred revenue	(12,525)		—		(12,525)
Goodwill	59,858		(273)		59,585
Net assets acquired	$	231,115	$	—	$	231,115

Business Acquisition, Pro Forma Information

These results are prepared in accordance with ASC 606.

(in thousands, except per share data)	Pro Forma Three Months Ended May 31, 2021
Revenue	$	139,115
Net income	$	12,285
Net income per basic share	$	0.28
Net income per diluted share	$	0.28

(in thousands, except per share data)	Pro Forma Six Months Ended May 31, 2021
Revenue	$	274,637
Net income	$	29,463
Net income per basic share	$	0.67
Net income per diluted share	$	0.66