On December 3, 2018, a subsidiary of Hub Group, Inc. closed on the Agreement and Plan of Merger (the “Merger Agreement”) to acquire CaseStack, Inc. (“CaseStack”). Total consideration for the transaction was $252.9 million. To facilitate the acquisition we paid $249.4 million in cash, of which $248.7 million was paid in December of 2018 and $0.7 million in April 2019, there was also a deferred purchase consideration of $3.5 million. The deferred purchase consideration is included in Accrued Other in our consolidated balance sheet and is being paid equally over twenty-four months.

The acquisition of CaseStack expanded our logistics service offering to include transportation and warehousing consolidation solutions for consumer packaged goods companies selling into the North American retail channel. The acquisition also added scale to our truck brokerage service offering, particularly in the less-than-truckload segment of the market.

The following table summarizes the total purchase price allocated to the net assets acquired (in thousands):

The following table summarizes the allocation of the total consideration to the assets acquired and liabilities assumed as of the date of the acquisition (in thousands):

Accounts receivable trade	$	31,896
Prepaid expenses and other current assets		694
Property and equipment		3,247
Deferred tax assets		6,433
Goodwill		166,070
Other intangibles		75,600
Other assets		120
Total assets acquired	$	284,060

Accounts payable trade	$	24,542
Accrued payroll		2,811
Accrued other		3,849
Total liabilities assumed	$	31,202

Total consideration	$	252,858

The CaseStack acquisition was accounted for as a purchase business combination in accordance with ASC 805 “Business Combinations.” Assets acquired and liabilities assumed were recorded in the accompanying consolidated balance sheet at their fair values as of December 3, 2018 with the remaining unallocated purchase price recorded as goodwill. The goodwill recognized in the CaseStack acquisition was primarily attributable to potential expansion and future development of the acquired business.

Tax history and attributes including net operating loss carryovers and other deferred tax assets are inherited in an equity purchase such as this, while goodwill is not tax deductible.

The components of “Other intangibles” listed in the above table as of the acquisition date are as follows (in thousands):

			Accumulated		Balance at		Estimated Useful
	Amount		Amortization		June 30, 2019		Life
Customer relationships - logistics services	$	65,600	$	3,827	$	61,773	10 years
Customer relationships - transportation services	$	8,700	$	1,015	$	7,685	5 years
Trade name	$	1,300	$	506	$	794	18 months

The above intangible assets are amortized using the straight-line method. Amortization expense related to this acquisition for the three and six month periods ended June 30, 2019 was $2.3 million and $4.6 million. The intangible assets have a weighted average useful life of approximately 9 years. Amortization expense related to CaseStack for the next five years is as follows (in thousands):

	Total
Remainder 2019	$	4,584
2020	$	8,661
2021	$	8,300
2022	$	8,300
2023	$	8,155

The following unaudited pro forma consolidated results of operations presents the effects of CaseStack as though it had been acquired as of January 1, 2018 (in thousands, except for per share amounts):

	Three Months Ended		Six Months Ended
	June 30, 2018		June 30, 2018
Revenue	$	955,180	$	1,853,199
Income from continuing operations	$	18,771	$	32,086
Earnings per share (1)
Basic	$	0.56	$	0.96
Diluted	$	0.56	$	0.96

The unaudited pro forma consolidated results for the periods shown were prepared using the acquisition method of accounting and are based on the historical financial information of Hub and CaseStack. The historical financial information has been adjusted to give effect to the pro forma adjustments that are: (i) directly attributable to the acquisition, (ii) factually supportable and (iii) expected to have a continuing impact on the combined results. The unaudited pro forma consolidated results are not necessarily indicative of what our consolidated results of operations actually would have been had we completed the acquisition on January 1, 2018.