Incredimail 2013 Annual Report Download - page 119

PERION NETWORK LTD. AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
U.S. dollars in thousands (except share and per share data)
NOTE 3:- ACQUISITIONS (Cont.)
Intangible assets:
In performing the purchase price allocation, the Company considered, among other factors, analysis of historical financial
performance, highest and best use of the acquired assets and estimates of future performance of Smilebox's products. The
fair value of intangible assets was based on market participant approach to valuation, performed by a third party valuation
firm using estimates and assumptions provided by management. The following table sets forth the components of
intangible assets associated with Smilebox acquisition:
NOTE 4:- OTHER RECEIVABLES AND PREPAID EXPENSES
Cash
$
2,100
Trade receivables
87
Other receivables and prepaid expenses
616
Property and equipment
191
Long
-
term prepaid expenses and other
449
Trade payables
(1,268)
Accrued expenses and other liabilities
(1,171)
Deferred revenues
(622)
Intangible assets
6,358
Goodwill
24,753
Total purchase price
$
31,493
Fair value
Useful life
Customer relationships
$
1,488
4.3-
6.3
years
Technology
3,000
3 years
Trade name
1,870
10.25
years
Total intangible assets
$
6,358
December 31,
2012
2013
Government authorities
$
3,661
$
2,672
Prepaid expenses
1,079
779
Deferred tax asset, net
360
110
Other
324
158
$
5,424
$
3,719
F
-
27