Acquisition
 12 Months Ended
Dec. 31, 2013
Business Combinations [Abstract]  
Acquisition
Acquisition
There was no acquisition activity for the year ended December 31, 2013. Please refer to Note 18—Subsequent Event for recent acquisition activity subsequent to year ended December 31, 2013.
Fiscal 2012 acquisitions
LeadFormix, Inc.
On January 3, 2012, the Company acquired Leadformix, Inc. ("Leadformix"), a leader in next-generation marketing automation and sales enablement, headquartered in the U.S. with operations in India, for $9.0 million in cash, which included an indemnity holdback of $1.5 million. In January 2013, $1.3 million of the indemnity holdback was paid and the remainder of the indemnity holdback was settled.
6FigureJobs.com
On May 4, 2012, the Company acquired 6FigureJobs.com ("6FigureJobs"), a premier job advertisement placement, recruitment media services and other career-related services provider to extend Hiring Cloud offerings. 6FigureJobs, a wholly-owned subsidiary of Workstream, Inc., a Canadian corporation, was purchased in exchange for $1.0 million in cash, which included an indemnity holdback of $0.3 million that was settled in May 2013.
    
    


The total purchase price for each acquisition was comprised of the following (amounts in thousands):
 
 
Purchase
Consideration
 
Net Tangible Assets
Acquired/(Liabilities
Assumed)
 
Identifiable
Intangible
Assets
 
Goodwill
 
Goodwill
deductible
for tax purposes
 
Acquisition
related
expenses
Leadformix
 
$
8,521

 
$
(754
)
 
$
2,800

 
$
6,475

 
Not deductible
 
$
270

6FigureJobs
 
1,031

 
(195
)
 
910

 
316

 
Not deductible
 
119

 
 
$
9,552

 
$
(949
)
 
$
3,710

 
$
6,791

 
 
 
 


The following table sets forth each component of identifiable intangible assets acquired in connection with the acquisitions: (in thousands):
 
 
 
 
 
 
 
 
Weighted
Average
Estimated
Useful
Life
 
 
 
 
 
 
 
 
 
 
 
 
 
Estimated Life
 
 
Leadformix
 
6FigureJobs
 
Total
 
 
Leadformix
 
6FigureJobs
Customer relationships
 
$
640

 
$
630

 
$
1,270

 
6.01
 
7
 
5
Developed technology
 
1,900

 
220

 
2,120

 
6.79
 
7
 
5
Tradename
 
260

 
60

 
320

 
6.63
 
7
 
5
 
 
$
2,800

 
$
910

 
$
3,710

 
 
 
 
 
 

Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired.
The financial results of these companies are included in the Company's consolidated results from their respective acquisition dates.
The Company's business combinations completed in 2012 did not have a material impact on the Company's consolidated financial statements, and therefore pro forma disclosures have not been presented.