Goodwill and Intangible assets (Tables)
 3 Months Ended
Mar. 31, 2015
Goodwill and Intangible Assets  
Schedule of preliminary allocation of consideration transferred

 

The Company’s preliminary allocation of consideration transferred for Nexus is as follows (in thousands):

                                                                                                                                                                                                                

 

 

Estimated Fair Value

 

Cash

 

$
121 

 

Inventory

 
2,346 

 

Other assets acquired

 
1,247 

 

Intangible assets

 
5,030 

 

Goodwill

 
2,618 

 

Total assets acquired

 
11,362 

 

Accounts payable

 
2,273 

 

Other liabilities assumed

 
589 

 

Net assets acquired

 

$
8,500 

 

 

Schedule of company's intangible assets and related accumulated amortization

 

 

The Company’s intangible assets and related accumulated amortization consisted of the following as of December 31, 2014 and March 31, 2015 (in thousands):

                                                                                                                                                                                                                 

 

 

December 31, 2014

 

 

 

Gross Carrying
Amount

 

Accumulated
Amortization

 

Net

 

Acquired technology

 

$
2,597

 

$
(1,214

)

$
1,383

 

Non-competition agreements

 
53

 
(27

)
26

 

Total intangible assets

 

$
2,650

 

$
(1,241

)

$
1,409

 

                                                                                                                                                                                                               

 

 

March 31, 2015

 

 

 

Gross Carrying
Amount

 

Accumulated
Amortization

 

Net

 

Acquired technology

 

$
7,076

 

$
(1,524

)

$
5,552

 

Customer relationships

 
360

 
(12

)
348

 

Non-competition agreements

 
53

 
(30

)
23

 

Total intangible assets

 

$
7,489

 

$
(1,566

)

$
5,923

 

 

Schedule of amortization expense during the respective periods

 

The Company recorded amortization expense during the respective periods for these intangible assets as follows: (in thousands):

                                                                                                                                                                                                                 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2014

 

2015

 

Amortization of intangible assets

 

$
98 

 

$
325 

 

 

Schedule of amortization of finite-lived intangible assets

 

Amortization of finite lived intangible assets as of March 31, 2015 for the next five years is as follows (in thousands):

                                                                                                                                                                                                                

 

 

Amount

 

2015

 

$
1,177 

 

2016

 
1,384 

 

2017

 
1,204 

 

2018

 
1,109 

 

2019

 
968 

 

2020

 
81 

 

 

 

$
5,923 

 

 

Schedule of changes in carrying amount of goodwill

 

Changes in the carrying amount of goodwill consisted of the following (in thousands):

                                                                                                                                                                                                                

 

 

Amount

 

Balance at December 31, 2014

 

$
231

 

Current period acquisitions

 
2,618

 

Foreign currency translation adjustment

 
(96

)

Balance at March 31, 2015

 

$
2,753