Goodwill and Intangible Assets (Tables)
|
6 Months Ended |
Jun. 30, 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
|
|
|
Total 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 June 30, 2015 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2014
|
|
|
|
|
Gross Carrying
|
|
Accumulated
|
|
|
|
|
|
|
|
Amount
|
|
Amortization
|
|
Net
|
|
|
Developed technology
|
|
$
|
2,597
|
|
$
|
(1,214)
|
|
$
|
1,383
|
|
|
Non-competition agreements
|
|
|
53
|
|
|
(27)
|
|
|
26
|
|
|
Total intangible assets
|
|
$
|
2,650
|
|
$
|
(1,241)
|
|
$
|
1,409
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2015
|
|
|
|
|
|
Gross Carrying
|
|
|
Accumulated
|
|
|
|
|
|
|
|
|
Amount
|
|
|
Amortization
|
|
|
Net
|
|
|
Developed technology
|
|
$
|
7,061
|
|
$
|
(1,907)
|
|
$
|
5,154
|
|
|
Customer relationships
|
|
|
358
|
|
|
(30)
|
|
|
328
|
|
|
Non-competition agreements
|
|
|
53
|
|
|
(32)
|
|
|
21
|
|
|
Total intangible assets
|
|
$
|
7,472
|
|
$
|
(1,969)
|
|
$
|
5,503
|
|
|
| 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
|
|
Six Months Ended
|
|
|
|
|
June 30,
|
|
June 30,
|
|
|
|
|
2014
|
|
2015
|
|
2014
|
|
2015
|
|
|
Amortization of intangible assets
|
|
$
|
98
|
|
$
|
403
|
|
$
|
196
|
|
$
|
728
|
|
|
| Schedule of amortization of finite-lived intangible assets |
Amortization of finite lived intangible assets as of June 30, 2015 for the next five years is as follows (in thousands):
|
|
|
|
|
|
|
|
|
Amount
|
|
|
2015
|
|
$
|
773
|
|
|
2016
|
|
|
1,381
|
|
|
2017
|
|
|
1,200
|
|
|
2018
|
|
|
1,106
|
|
|
2019
|
|
|
963
|
|
|
2020
|
|
|
80
|
|
|
|
|
$
|
5,503
|
|
|
| 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
|
|
|
(107)
|
|
|
Balance at June 30, 2015
|
|
$
|
2,742
|
|
|