Acquisition (Tables)

9 Months Ended

Sep. 30, 2020

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

In connection with the acquisition, the Company recorded the following amounts based upon its purchase price allocation as of September 30, 2020 (in thousands, except weighted average useful lives):

	Amount		Weighted Average Useful Lives
Current assets:
Cash and cash equivalents	$	135
Receivables, net of allowances	17,658
Settlement assets	239,604
Prepaid expenses	317
Other current assets	19,585
Total current assets acquired	277,299
Noncurrent assets:
Goodwill	366,508
Software	113,600		7 years
Customer relationships	208,500		15 years
Trademarks	10,900		5 years
Other noncurrent assets	3,745
Total assets acquired	980,552
Current liabilities:
Accounts payable	6,623
Settlement liabilities	212,892
Employee compensation	1,959
Other current liabilities	3,802
Total current liabilities acquired	225,276
Noncurrent liabilities:
Other noncurrent liabilities	1,219
Total liabilities acquired	226,495
Net assets acquired	$	754,057

Summary of Unaudited Summarized Pro Forma Financial Information

The following is the unaudited summarized pro forma financial information (in thousands, except per share data):

	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Pro forma revenue	$	354,901	$	983,037
Pro forma net income	$	32,513	$	26,517
Pro forma income per share:
Basic	$	0.28	$	0.23
Diluted	$	0.27	$	0.22