v3.24.1.u1
ACQUISITIONS (Tables)
 3 Months Ended
Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]  
Components of Preliminary Purchase Price Allocation
The table below represents the preliminary purchase price allocation to total assets acquired and liabilities assumed and the associated estimated useful lives as of the acquisition date.
(in thousands) Estimated
Useful Life		Fair Value
Cash and cash equivalents$5,397 
Accounts receivable25,848 
Prepaid Income Taxes30 
Other current assets4,178 
Property, equipment and leasehold improvements, net670 
Right of use assets3,443 
Other non-current assets471 
Deferred revenue(21,479)
Other current liabilities(13,185)
Long-term operating lease liabilities(2,525)
Intangible assets:
Proprietary data11 years229,900 
Customer relationships21 years179,900 
Acquired technology and software3 years19,000 
Trademarks1 year900 
Goodwill617,386 
Net assets acquired$1,049,934 
Schedule of Preliminary Acquired Balances Related to Acquisition
The following table presents the preliminary acquired balances related to the acquisitions of Trove and Fabric:
(in thousands, except weighted average amortization period of intangible asset)
Trove
Fabric
Acquisition Date
November 1, 2023January 2, 2024
Cash payments
$37,473 $7,959 
Contingent consideration liability(1)
— 8,146 
Aggregate purchase price
$37,473 $16,105 
Net tangible assets acquired (liabilities assumed)
$(4,787)$(226)
Intangible assets
7,705 11,300 
Goodwill
34,555 5,031 
Aggregate purchase price
$37,473 $16,105 
Weighted average amortization period of intangible assets (years)
13.09.1
___________________________
(1)The fair value of the contingent consideration upon closing of the acquisition of Fabric was $8.1 million. As of March 31, 2024, the fair value of the contingent consideration was $8.3 million, of which $1.8 million is included in “Other accrued liabilities” and $6.5 million is included in “Other non-current liabilities” on the Unaudited Condensed Consolidated Statement of Financial Condition, and is classified as Level 3 within the fair value hierarchy.