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ASSURANT, INC. – 2015 Form 10-KF-66
26 Acquisitions
26� Acquisitions
There were no material acquisitions in 2015.
On October 31, 2014, the Company acquired CWI Group,
a mobile insurance administrator in France, for €56,937
($71,393) in cash. In connection with the acquisition, the
Company recorded €26,485 ($33,399) of customer and market
based intangible assets, all of which are amortizable over 1
to 8 year periods, and €37,369 ($47,123) of goodwill, none of
which is tax-deductible. The acquisition agreement also calls
for a potential earnout based on future performance� The
primary factor contributing to the recognition of goodwill is
the future expected growth of this business within Assurant
Solutions�
On September 3, 2014, the Company acquired eMortgage
Logic, LLC, a national provider of residential valuation
products and valuation technology services. The acquisition-
date fair value of the consideration transferred totaled
$28,263, which primarily consists of an initial cash payment of
$17,000 and a contingent payment of $10,231. The contingent
consideration arrangement is based on future expected
revenue. In connection with the acquisition, the Company
recorded $11,270 of customer and technology based intangible
assets, all of which are amortizable over 3 to 11 year periods,
and $14,058 of goodwill, all of which is tax- deductible. The
primary factor contributing to the recognition of goodwill is
the future expected growth of this business within Assurant
Specialty Property�
On April 16, 2014, the Company acquired StreetLinks, LLC, a
leading independent appraisal management company, from
Novation Companies, Inc. The acquisition-date fair value of the
consideration transferred totaled $65,905, which consists of an
initial cash payment of $60,905 and a contingent payment of
$5,000. The contingent consideration arrangement is based on
future expected revenue. In connection with the acquisition,
the Company recorded $47,970 of customer and technology
based intangible assets, all of which are amortizable over 2
to 12 year periods, and $14,738 of goodwill, none of which
is tax-deductible� The primary factor contributing to the
recognition of goodwill is the future expected growth of this
business within Assurant Specialty Property�