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CITRIX SYSTEMS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
F-18
The purchase price for ByteMobile was allocated to the acquired net tangible and intangible assets based on its estimated
fair value as of the date of the acquisition. The allocation of the total purchase price is summarized below (in thousands):
ByteMobile
Purchase
Price
Allocation Asset Life
Current assets $ 57,796
Other assets 7,406
Property and equipment 2,484 Various
Deferred tax assets, non-current 44,934
Intangible assets 248,900 1-9 years
Goodwill 221,914 Indefinite
Assets acquired 583,434
Current liabilities assumed (62,313)
Long-term liabilities assumed (4,083)
Deferred tax liabilities, non-current (111,904)
Net assets acquired $ 405,134
Current assets acquired in connection with the ByteMobile acquisition consisted primarily of cash and accounts
receivable. Current liabilities assumed in connection with the ByteMobile acquisition consisted primarily of current portion of
deferred revenues, short-term payables, other accrued expenses and short-term debt which was paid in full subsequent to the
acquisition date. Long-term liabilities assumed in connection with the ByteMobile acquisition consisted of other long-term
liabilities, long-term portion of deferred revenues and long-term debt, which was paid in full subsequent to the acquisition date.
Identifiable intangible assets acquired in connection with the ByteMobile acquisition included trade names of $6.0 million with
a weighted-average asset life of 6.0 years, customer relationships of $141.5 million with a weighted-average life of 9.0 years,
and core and product technologies of $101.4 million with a weighted-average life of 4.8 years.
Podio
In April 2012, the Company acquired all of the issued and outstanding securities of Podio ApS (“Podio”), a privately-held
provider of a cloud-based collaborative work platform. Podio became part of the Company's SaaS division and expands the
Company's offerings of integrated cloud-based support for team-based collaboration. The total consideration for this transaction
was approximately $43.6 million, net of $1.7 million of cash acquired, and was paid in cash. Transaction costs associated with
the acquisition were approximately $0.5 million, all of which the Company expensed during the year ended December 31, 2012
and are included in General and administrative expense in the accompanying consolidated statements of income. The Company
recorded approximately $24.5 million of goodwill, which is not deductible for tax purposes, and acquired $24.6 million of
identifiable intangible assets, of which $20.7 million is related to product related intangible assets and $3.9 million is related to
other intangible assets. In addition, in connection with the acquisition, the Company assumed non-vested stock units which
were converted into the right to receive up to 127,668 shares of the Company's common stock, for which the vesting period
reset fully upon the closing of the transaction.
2012 Other Acquisitions
During the first quarter of 2012, the Company acquired all of the issued and outstanding securities of a privately-held
company for total cash consideration of approximately $24.6 million, net of $0.6 million of cash acquired. This business
became part of the Company’s Enterprise and Service Provider division. Transaction costs associated with the acquisition were
approximately $0.5 million, of which the Company expensed $0.4 million and $0.1 million during the years ended
December 31, 2012 and 2011, respectively, and are included in General and administrative expense in the accompanying
consolidated statements of income. The Company recorded approximately $22.8 million of goodwill, which is not deductible
for tax purposes, and acquired $11.0 million of identifiable intangible assets, all of which is related to product related intangible
assets. In addition, in connection with this acquisition, the Company assumed non-vested stock units which were converted into
the right to receive up to 13,481 shares of the Company's common stock and assumed certain stock options which are
exercisable for 12,017 shares of the Company's common stock, for which the vesting period reset fully upon the closing of the
transaction.
During the second quarter of 2012, the Company acquired all of the issued and outstanding securities of two privately-
held companies for a total cash consideration of approximately $15.4 million, net of $0.2 million of cash acquired. The
businesses became part of the Company's Enterprise and Service Provider division. Transaction costs associated with the