Quarterly report pursuant to Section 13 or 15(d)

Business Combinations (Tables)

v3.23.3
Business Combinations (Tables)
 9 Months Ended
Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Consideration Paid and Assets and Liabilities Acquired The following table summarizes the purchase consideration.
As of
July 3, 2023
(in thousands)
Consideration transferred, net of cash acquired (1)
$ 23,903 
Estimated fair value of noncontrolling interest
 17,647 
Total consideration
 $ 41,550 
(1)Consideration transferred includes a one-year $2.3 million cash holdback.
Schedule of Allocation of Fair Value of Consideration Transferred The following table presents the preliminary allocation of the fair value of consideration transferred:
As of
July 3, 2023
(in thousands)
Current assets $ 1,742 
Other non-current assets 470 
Intangible assets 24,100 
Goodwill 22,669 
Total assets acquired 48,981 
Accounts payable and accrued liabilities 814 
Long-term deferred tax liabilities 6,333 
Other non-current liabilities 284 
Total liabilities assumed 7,431 
Net assets acquired
 $ 41,550 
Schedule of Identifiable Intangible Assets Acquired
Identifiable intangible assets acquired in the DTIS Acquisition and their useful lives consist of the following:
Useful lives
 As of
July 3, 2023
(in thousands)
Biometric screening platform
 12.5 years $ 23,700 
Trade names
8.5 years 400 
Total
$ 24,100