(2) Acquisitions

The Company completed two acquisitions in the first quarter of 2013, which are discussed below.

On January 10, 2013, the Company acquired 100% of the shares of common stock and voting equity of Co-Web, located in Paris, France. Co-Web is a start-up that creates consumer customized 3D printed products and collectibles. Co-Web’s operations have been integrated into the Company’s Cubify consumer solutions and included in services revenue. The fair value of the consideration paid for this acquisition, net of cash acquired, was $262, based on the exchange rate of the Euro at the date of acquisition, all of which was paid in cash. The fair value of the consideration paid for this acquisition was allocated to the assets purchased and liabilities assumed, based on their estimated fair values as of the acquisition date, with any excess recorded as goodwill, and is included in the table below, which summarizes first quarter 2013 acquisitions. The Co-Web acquisition is not significant to the Company’s operating results.

Subject to the terms and conditions of the acquisition agreement, the sellers have a right to earn an additional amount of up to approximately $655, based on the exchange rate of the Euro at the date of acquisitions, pursuant to a formula set forth in the acquisition agreement, for a period of 48 months, which commenced February 1, 2013, and will be recorded as compensation expense if it is earned.

On February 27, 2013, the Company acquired 100% of the shares of common stock and voting equity of Geomagic, Inc. (“Geomagic”). Geomagic is a leading global provider of 3D authoring solutions including design, sculpt and scan software tools that are used to create 3D content and inspect products throughout the entire design and manufacturing process. Geomagic’s operations have been integrated into the Company and are included in products and services revenue. The fair value of the consideration paid for this acquisition, net of cash acquired, was $52,687, all of which was paid in cash. The fair value of the consideration paid for this acquisition was allocated to the assets purchased and liabilities assumed, based on their estimated fair values as of the acquisition date, with any excess recorded as goodwill, and is included in the table below, which summarizes first quarter 2013 acquisitions. Factors considered in determination of goodwill include synergies, workforce, vertical integration and strategic fit for the Company. The Geomagic acquisition is not significant to the Company’s operating results.

Neither of the acquisitions the Company completed in the first quarter of 2013 was material relative to the Company’s assets or operating results, either individually or in aggregate; therefore, no proforma financial information is provided for these acquisitions.

The Company’s purchase price allocations for the acquired companies are preliminary and subject to revision as more detailed analyses are completed and additional information about fair value of assets and liabilities becomes available. The amounts related to the acquisition of these businesses were allocated to the assets acquired and the liabilities assumed and included in the Company’s condensed consolidated balance sheet at March 31, 2013 as follows:



(in thousands)	2013
Fixed assets	$	948
Other intangible assets, net		17,983
Goodwill		38,718
Other assets, net of cash acquired		8,527
Liabilities		(13,227	)
Net assets acquired	$	52,949