|
Business combinations (Tables)
|
12 Months Ended |
|
Sep. 30, 2013
|
| Business combinations |
|
| Summary of valuation of the intangible assets acquired |
The valuation of the intangible assets acquired is summarized below (in thousands).
|
|
|
|
|
|
|
|
|
Useful life |
|
Fair value |
|
|
Customer relationships
|
|
20 years |
|
$ |
19,933 |
|
|
Technology-based intangible assets
|
|
2 years |
|
|
609 |
|
| |
|
|
|
|
|
|
Total intangible assets
|
|
|
|
$ |
20,542 |
|
| |
|
|
|
|
|
|
| Schedule of unaudited pro forma information |
The pro forma results presented include amortization charges for acquired intangible assets, adjustments to interest income foregone, the effect of calculating the fair value of acquired deferred revenue and related tax effects, as well as excluding the related acquisition expenses for fiscal year 2013 (in thousands).
|
|
|
|
|
|
|
|
|
|
Unaudited pro forma results
for the year ended
September 30, |
|
|
|
2013 |
|
2012 |
|
|
Revenue
|
|
$ |
1,368,399 |
|
$ |
1,093,389 |
|
|
Income from continuing operations
|
|
|
120,182 |
|
|
77,469 |
|
|
| Summary of effect on the financial statements |
The effect on the financial statements is summarized below (in thousands):
|
|
|
|
|
|
|
Contingent
consideration |
|
|
Balance at September 30, 2012
|
|
$ |
406 |
|
|
Foreign currency translation
|
|
|
(18 |
) |
| |
|
|
|
|
Balance at September 30, 2013
|
|
$ |
388 |
|
| |
|
|
|
|
|
HML
|
|
| Business combinations |
|
| Assets and liabilities recorded in the Company's financial statements at their fair values at the acquisition date |
The assets and liabilities of HML were recorded in the Company's financial statements at their fair values at the acquisition date as follows (in thousands):
|
|
|
|
|
|
|
Preliminary Purchase
Price Accounting |
|
|
Cash consideration, net of cash acquired
|
|
$ |
71,435 |
|
|
Stock consideration
|
|
|
6,425 |
|
| |
|
|
|
|
Purchase consideration, net of cash acquired
|
|
$ |
77,860 |
|
| |
|
|
|
|
Accounts receivable and unbilled receivables
|
|
$ |
7,671 |
|
|
Other current assets
|
|
|
1,382 |
|
|
Property and equipment
|
|
|
2,752 |
|
|
Intangible assets
|
|
|
20,542 |
|
| |
|
|
|
|
Total identifiable assets acquired
|
|
|
32,347 |
|
| |
|
|
|
|
Accounts payable and other liabilities
|
|
|
6,228 |
|
|
Deferred revenue
|
|
|
1,149 |
|
|
Current income tax liability
|
|
|
612 |
|
|
Deferred tax liability
|
|
|
4,814 |
|
| |
|
|
|
|
Total liabilities assumed
|
|
|
12,803 |
|
| |
|
|
|
|
Net identifiable assets acquired
|
|
|
19,544 |
|
|
Goodwill
|
|
|
58,316 |
|
| |
|
|
|
|
Net assets acquired
|
|
$ |
77,860 |
|
| |
|
|
|
|
|
PSI
|
|
| Business combinations |
|
| Assets and liabilities recorded in the Company's financial statements at their fair values at the acquisition date |
An initial valuation was performed at September 30, 2012 and this valuation has been updated through September 30, 2013 (below, in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchase Price Allocation |
|
|
|
Updated through September 30, 2012 |
|
Adjustments |
|
Updated through September 30, 2013 |
|
|
Accounts receivable and unbilled receivables
|
|
$ |
23,017 |
|
$ |
— |
|
$ |
23,017 |
|
|
Other current assets
|
|
|
9,527 |
|
|
— |
|
|
9,527 |
|
|
Deferred income taxes
|
|
|
1,931 |
|
|
198 |
|
|
2,129 |
|
|
Property and equipment
|
|
|
6,411 |
|
|
— |
|
|
6,411 |
|
|
Other assets
|
|
|
1,332 |
|
|
— |
|
|
1,332 |
|
|
Intangible assets
|
|
|
22,183 |
|
|
— |
|
|
22,183 |
|
| |
|
|
|
|
|
|
|
|
Total identifiable assets acquired
|
|
|
64,401 |
|
|
198 |
|
|
64,599 |
|
| |
|
|
|
|
|
|
|
|
Accounts payable and other liabilities
|
|
|
20,666 |
|
|
— |
|
|
20,666 |
|
|
Deferred revenue
|
|
|
19,696 |
|
|
79 |
|
|
19,775 |
|
| |
|
|
|
|
|
|
|
|
Total liabilities assumed
|
|
|
40,362 |
|
|
79 |
|
|
40,441 |
|
| |
|
|
|
|
|
|
|
|
Net identifiable assets acquired
|
|
|
24,039 |
|
|
119 |
|
|
24,158 |
|
|
Goodwill
|
|
|
39,161 |
|
|
129 |
|
|
39,290 |
|
| |
|
|
|
|
|
|
|
|
Net assets acquired
|
|
$ |
63,200 |
|
$ |
248 |
|
$ |
63,448 |
|
| |
|
|
|
|
|
|
|
|