Acquisitions (Tables)

12 Months Ended

Dec. 31, 2023

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following tables summarize the fair value of consideration and the fair values of identified assets acquired and liabilities assumed at each respective date of acquisition:

Fair Value of Consideration:


(in thousands)
Cash	$	230,106
Non-cash consideration	5,056
Total consideration	$	235,162

Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed:

(in thousands)
Cash	$	18,870
Accounts receivable and other tangible assets	19,294
Developed software and core technologies	28,110
Customer lists	83,790
Trade names	2,910
Accounts payable and other liabilities	(8,845)
Deferred revenue	(8,030)
Net deferred tax liabilities	(31,980)
Total identifiable net assets	$	104,119
Goodwill	$	131,043

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The weighted-average useful life, valuation method and assumptions used to determine the fair value of the intangible assets related to the 2023 acquisitions are as follows:

Intangible Asset

Weighted-Average Useful Life

Valuation Method

Assumptions

Developed software and core technologies

5 years

Relief-from-royalty or multi-period excess earnings

Royalty rate: 20.0%

Obsolescence rate: 15.0% - 20.0% Discount rate: 12.5% - 22.0%

Trade names

5 years

Relief-from-royalty

Royalty rate: 1.0% - 2.0%

Discount rate: 15.5% - 22.0%

Customer lists

13 years

Multi-period excess earnings

Attrition rate: 5.0%

Discount rate: 15.5% - 22.0%