Go Daddy 2015 Annual Report Download - page 102
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Table of Contents
GoDaddy Inc.
Notes to Consolidated Financial Statements
(In millions, except share amounts which are reflected in thousands and per share amounts)
The purchase price was allocated to the tangible and intangible assets acquired and liabilities assumed based upon our assessment of fair values as of the
acquisition date with $33.6 million attributed to goodwill, which is deductible for income tax purposes, $10.8 million to identified intangible assets and $0.1
million of net liabilities assumed. The identified finite-lived intangible assets, which primarily include developed technology and customer relationships valued
using either income- or cost-based approaches, have a weighted-average amortization period of 4.5 years . The acquisition was expected to provide enhanced
online capabilities to our customers, and goodwill was primarily attributable to synergies expected to arise after the acquisition.
2013 Acquisitions
During 2013, we completed five acquisitions for consideration consisting of: (1) cash of $158.5 million ; (2) 365 LLC Units valued at $4.1 million ;
(3) warrants for the purchase of 126 LLC Units valued at $0.6 million ; and (4) the assumption of vested options valued at $0.2 million . These acquisitions are not
material to our results of operations.
The aggregate purchase price was allocated to the tangible and intangible assets acquired and liabilities assumed based upon our assessment of fair values as
of the respective acquisition dates with $112.3 million attributed to goodwill, of which $30.8 million is not deductible for income tax purposes, $59.7 million to
identified intangible assets, $7.4 million to property and equipment, $8.1 million to deferred revenue, $7.6 million to net deferred tax liabilities and $0.3 million of
net liabilities assumed. The identified finite-lived intangible assets primarily include customer relationships, developed technology and trade names.
In connection with one of the acquisitions, we issued 618 LLC Units valued at $7.0 million subject to employment-based vesting over a period of 30 months
following the acquisition date. As vesting of these awards is subject to continuing employment, we record equity-based compensation expense over the vesting
period, which is included in the amounts shown in Note 6 .
4. Goodwill and Intangible Assets
The following table summarizes changes in our goodwill balance:
Balance at December 31, 2013 $ 1,627.6
Goodwill related to acquisitions 33.6
Balance at December 31, 2014 1,661.2
Goodwill related to acquisitions 2.2
Balance at December 31, 2015 $ 1,663.4
96