| Schedule of Business Consideration Paid to Acquire |
The consideration paid to acquire STI consisted of the following (in thousands): | | | | | | | | | | Cash consideration for STI | | $ | 409,647 | | | Cash consideration for transaction expenses of STI | | 896 | | | Total cash consideration | | 410,543 | | | Non-cash equity consideration | | 200,224 | | | Total consideration transferred | | 610,767 | | | Total purchase price consideration | | $ | 610,767 | |
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| Schedule of Business Acquisitions, by Acquisition |
The following table summarizes the fair values of the assets acquired and liabilities assumed as of the Acquisition Date (in thousands): | | | | | | | | | | | | | | | | | | | Fair Value of Net Assets Acquired and Liabilities Assumed: | Acquisition Date | | Measurement Adjustment | | Remeasured Acquisition Date | | Cash and cash equivalents | $ | 36,725 | | | $ | — | | | $ | 36,725 | | | Accounts receivable | 110,789 | | | — | | | 110,789 | | | Inventories | 47,517 | | | — | | | 47,517 | | | Prepaid expenses and other | 23,399 | | | — | | | 23,399 | | | Property, plant and equipment | 4,434 | | | — | | | 4,434 | | | Other intangible assets | 304,431 | | | — | | | 304,431 | | | Other assets | 325 | | | 2,655 | | | 2,980 | | | Total assets acquired | $ | 527,620 | | | $ | 2,655 | | | $ | 530,275 | | | | | | | | | Accounts payable | 65,761 | | | — | | | 65,761 | | | Deferred revenue | 20,345 | | | — | | | 20,345 | | | Short-term debt | 44,338 | | | — | | | 44,338 | | | Other liabilities | 10,115 | | | 2,655 | | | 12,770 | | | Income tax payable | 7,576 | | | — | | | 7,576 | | | Deferred tax liability | 95,510 | | | — | | | 95,510 | | | Other long-term liabilities | 4,524 | | | — | | | 4,524 | | | Long-term debt | 12,053 | | | — | | | 12,053 | | | Total liabilities assumed | $ | 260,222 | | | $ | 2,655 | | | $ | 262,877 | | | | | | | | | Fair value of net assets acquired | 267,398 | | | | | 267,398 | | | Allocation to goodwill | $ | 343,369 | | | | | $ | 343,369 | |
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| Schedule of Purchase Price Allocation |
The purchase price allocation includes $304.4 million of acquired identifiable intangible assets. | | | | | | | | | | | | | | | | (in thousands, except useful lives) | | Estimated Fair Value | | Estimated Weighted Average Useful Life in Years | | Backlog | | $ | 50,000 | | | 1 | | Customer relationships | | 228,408 | | | 10 | | Trade name | | 26,023 | | | 20 | | Total | | $ | 304,431 | | | |
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| Schedule of Business Acquisition, Pro Forma Information |
The unaudited pro forma financial information does not reflect any adjustments for anticipated expense savings resulting from the STI Acquisition and is not necessarily indicative of the operating results that would have actually occurred had the STI Acquisition been consummated on January 1, 2021, (in thousands): | | | | | | | | | | | | | Year Ended December 31, | | 2022 | | 2021 | Revenue | $ | 1,645,962 | | | $ | 1,118,903 | | Net income (loss) | $ | 36,285 | | | $ | (74,215) | |
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