| Schedule of Business Acquisitions, by Acquisition |
The total consideration for the acquisition is comprised as the following (in thousands): | | | | | | | Amount | | Total amount paid for consideration | $ | 443,565 | | | Less: Noncontrolling interest in Via LA | (9,921) | | | Settlement of pre-existing relationship | (750) | | | Total consideration transferred for acquisition of GE Licensing | 432,894 | | | Less: Cash acquired | (2,232) | | | Total consideration, net of cash acquired | $ | 430,662 | |
| | | | | | | | Amount | | Cash | $ | 135,739 | | Noncontrolling interest in Via LA (24.8 million common equity units) | 24,815 | | | Total amount paid to sellers | $ | 160,554 | | | Less: amount deemed post-acquisition expense | (2,174) | | | Total consideration paid to sellers | $ | 158,380 | | | Assumed settlement of pre-existing relationships due to Dolby | 61,313 | | | Total consideration | $ | 219,693 | | | Less: unrestricted cash acquired | (80,633) | | | Total consideration, net of unrestricted cash acquired | $ | 139,060 | |
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| Schedule of Recognized Identified Assets Acquired and Liabilities Assumed |
The following table summarizes the preliminary acquisition date fair values of the assets acquired and liabilities assumed (in thousands): | | | | | | | Recognized Identifiable Assets Acquired and Liabilities Assumed | Purchase Price Allocation (Preliminary) | | Cash and cash equivalents | $ | 2,232 | | | Accounts receivable | 20,135 | | | Other current assets | 9,636 | | | Assets held for sale, current | 18,231 | | | Long-term investments | 76,000 | | | Intangible assets | 274,197 | | | Goodwill | 80,763 | | | Other non-current assets | 3,503 | | | Other current liabilities | (15,765) | | | Contingent liabilities | (14,199) | | | Other non-current liabilities | (21,839) | | | Purchase Consideration | $ | 432,894 | |
The following table summarizes the preliminary fair values allocated to the various intangible assets acquired and the weighted-average useful lives over which they will be amortized using the straight-line method:
| | | | | | | | | | | | | | Purchase Price Allocation | | Weighted-Average Useful Life | | | Intangible Assets Acquired | (in thousands) | | (in years) | | | Patents and technology – HEVC Codecs | $ | 261,697 | | | 11 | | | Patents and technology – non-HEVC Codecs | 12,500 | | | 11 | | | Total | $ | 274,197 | | | 11 | |
The following table summarizes the acquisition date fair values allocated to the net assets acquired (in thousands): | | | | | | | Recognized Identifiable Assets Acquired and Liabilities Assumed | Purchase Price Allocation | | Cash and cash equivalents | $ | 80,633 | | | Restricted cash | 143,564 | | | Other current assets | 73,556 | | | Intangible assets | 86,000 | | | Goodwill | 40,579 | | | Other non-current assets | 34,298 | | | Amounts payable to patent administrative program partners | (179,616) | | | Other current liabilities | (21,709) | | | Non-current liabilities | (37,612) | | | Purchase Consideration | $ | 219,693 | |
The following table summarizes the fair values allocated to the various intangible assets acquired and the weighted-average useful lives over which they will be amortized using the straight-line method: | | | | | | | | | | | | | | Purchase Price Allocation | | Weighted-Average Useful Life | | | Intangible Assets Acquired | (in thousands) | | (in years) | | | Licensor Relationships – AVC & Other | $ | 36,000 | | | 13 | | | Licensor Relationships - HEVC | 31,000 | | | 10 | | | Implementer Relationships – AVC & Other | 12,000 | | | 13 | | | Implementer Relationships - HEVC | 7,000 | | | 10 | | | Total | $ | 86,000 | | | 12 | |
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