Pitney Bowes 2007 Annual Report Download - page 70

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PITNEY BOWES INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Tabular dollars in thousands, except per share data)
52
The following table summarizes selected financial data for the opening balance sheet allocations of the acquisitions in 2007:
Asterion
SAS Di
g
ital Cement,
Inc. MapInfo
Corporation
Purchase price allocation
Short-term investments ...................................... $ - $ -
$ 46,308
Current assets..................................................... 52,900
2,146
41,213
Other non-current assets .................................... 30,685 932
35,826
Intangible assets ................................................. 5,802 9,400 113,000
Goodwill ............................................................ 26,763 39,878 326,296
Current liabilities ............................................... (57,794) (1,325) (52,963)
Debt.................................................................... - - (13,866)
Non-current liabilities ........................................ (29,929) (1,900) (50,060)
Purchase price, net of cash acquired ................. $ 28,427 $ 49,131 $ 445,754
Intangible assets
Customer relationships....................................... $ 5,802 $ 8,500
$ 75,900
Mailing software and technology....................... - -
29,500
Trademarks and trade names ............................. - 900
7,600
Total intangible assets....................................... $ 5,802
$ 9,400
$ 113,000
Intangible assets amortization period
Customer relationships....................................... 10 years
10 years
10 years
Mailing software and technology....................... - -
5 years
Trademarks and trade names ............................. - 2 years
5 years
Total weighted average ...................................... 10 years 9 years
8 years
The following table summarizes selected financial data for the opening balance sheet allocations of the acquisitions in 2006:
Print, Inc. AAS Ibis Emtex
Purchase price allocation
Current assets..................................................... $ 9,385
$ 1,989
$ 6,468 $ 4,240
Other non-current assets .................................... 1,610 789
3,349 1,034
Intangible assets ................................................. 8,144 8,200
17,700 14,540
Goodwill ............................................................ 36,588 31,670 40,751 25,076
Current liabilities ............................................... (8,547) (1,033) (3,258) (11,946)
Non-current liabilities ........................................ (1,163) - - (112)
Purchase price.................................................... $ 46,017 $ 41,615 $ 65,010 $ 32,832
Intangible assets
Customer relationships....................................... $ 8,144 $ 4,000
$ 8,800 $ 3,300
Mailing software and technology....................... - 4,200
7,800 9,200
Trademarks and trade names ............................. - -
1,100 2,040
Total intangible assets........................................ $ 8,144
$ 8,200
$ 17,700 $ 14,540
Intangible assets amortization period
Customer relationships....................................... 6 years 10 years
10 years 10 years
Mailing software and technology....................... - 5 years
5 years 5 years
Trademarks and trade names ............................. - -
3 years 5 years
Total weighted average ...................................... 6 years 7 years
7 years 6 years