|
ACQUISITIONS (Tables)
|
12 Months Ended |
|
Dec. 31, 2013
|
|
Beans
|
|
| ACQUISITIONS |
|
| Schedule of purchase price allocation to assets acquired and liabilities assumed |
|
|
|
|
|
|
|
|
|
|
Estimated
useful lives |
|
Intangible assets acquired: |
|
|
|
|
|
|
Customer relationship |
|
$ |
927 |
|
6 years |
|
Goodwill |
|
|
1,115 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total |
|
$ |
2,042 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total consideration |
|
$ |
2,042 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
|
Business team of China-based IT service firms
|
|
| ACQUISITIONS |
|
| Schedule of purchase price allocation to assets acquired and liabilities assumed |
|
|
|
|
|
|
|
|
|
|
Estimated
useful lives |
|
Intangible assets acquired: |
|
|
|
|
|
|
Contract backlog |
|
$ |
287 |
|
0.9 year |
|
Customer relationship |
|
|
666 |
|
4.9 years |
|
Goodwill |
|
|
1,547 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total consideration |
|
$ |
2,500 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| Schedule of unaudited pro forma information summarizing the results of operations |
|
|
|
|
|
|
|
Year ended
December 31,
2011 |
|
|
|
(Unaudited)
|
|
|
Net revenues |
|
$ |
219,197 |
|
|
Net income |
|
|
17,715 |
|
|
Net income per share |
|
|
|
|
|
—Basic |
|
$ |
0.44 |
|
| |
|
|
|
| |
|
|
|
|
| |
|
|
|
|
| |
|
|
|
|
—Diluted |
|
$ |
0.41 |
|
| |
|
|
|
| |
|
|
|
|
| |
|
|
|
|
| |
|
|
|
|
|
NouvEON
|
|
| ACQUISITIONS |
|
| Schedule of purchase price allocation to assets acquired and liabilities assumed |
|
|
|
|
|
|
|
|
|
|
Estimated
useful lives |
|
Net liabilities assumed: |
|
|
|
|
|
|
Current assets |
|
$ |
830 |
|
|
|
Current liabilities |
|
|
(1,879 |
) |
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total |
|
$ |
(1,049 |
) |
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Intangible assets acquired: |
|
|
|
|
|
|
Customer relationship |
|
|
3,300 |
|
4 years |
|
Trademark |
|
|
2,900 |
|
Indefinite |
|
Backlog |
|
|
283 |
|
1 year |
|
Goodwill |
|
|
10,930 |
|
|
|
Deferred tax liability |
|
|
(2,204 |
) |
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total |
|
$ |
15,209 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total consideration |
|
$ |
14,160 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| Schedule of unaudited pro forma information summarizing the results of operations |
|
|
|
|
|
|
|
Year ended
December 31,
2011 |
|
|
|
(Unaudited)
|
|
|
Net revenues |
|
$ |
225,390 |
|
|
Net income |
|
|
17,260 |
|
|
Net income per share |
|
|
|
|
|
—Basic |
|
$ |
0.43 |
|
| |
|
|
|
| |
|
|
|
|
|
—Diluted |
|
$ |
0.40 |
|
| |
|
|
|
| |
|
|
|
|
| |
|
|
|
|
| |
|
|
|
|
|
HURO
|
|
| ACQUISITIONS |
|
| Schedule of purchase price allocation to assets acquired and liabilities assumed |
|
|
|
|
|
|
|
|
|
|
Estimated
useful lives |
|
Net tangible assets: |
|
|
|
|
|
|
Current assets |
|
$ |
4,375 |
|
|
|
Current liabilities |
|
|
(3,825 |
) |
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total |
|
$ |
550 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Intangible assets acquired: |
|
|
|
|
|
|
Customer relationship |
|
|
1,339 |
|
5 years |
|
Contract backlog |
|
|
856 |
|
1 year |
|
Trade name |
|
|
1,425 |
|
Indefinite |
|
Non-compete agreement |
|
|
359 |
|
5 years |
|
Goodwill |
|
|
3,361 |
|
|
|
Deferred tax liability |
|
|
(597 |
) |
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total |
|
$ |
6,743 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total consideration |
|
$ |
7,293 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| Schedule of unaudited pro forma information summarizing the results of operations |
|
|
|
|
|
|
|
Year ended
December 31,
2011 |
|
|
|
(Unaudited)
|
|
|
Net revenues |
|
$ |
222,856 |
|
|
Net income |
|
|
17,514 |
|
|
Net income per share |
|
|
|
|
|
—Basic |
|
$ |
0.43 |
|
| |
|
|
|
| |
|
|
|
|
|
—Diluted |
|
$ |
0.41 |
|
| |
|
|
|
| |
|
|
|
|
| |
|
|
|
|
| |
|
|
|
|
|
Logoscript
|
|
| ACQUISITIONS |
|
| Schedule of purchase price allocation to assets acquired and liabilities assumed |
|
|
|
|
|
|
|
|
|
|
Estimated
useful life |
|
Net tangible assets: |
|
|
|
|
|
|
Assets |
|
$ |
1,592 |
|
|
|
Liabilities |
|
|
(1,150 |
) |
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total |
|
$ |
442 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Intangible assets acquired: |
|
|
|
|
|
|
Customer relationship |
|
|
233 |
|
3 years |
|
Goodwill |
|
|
794 |
|
|
|
Deferred tax liability |
|
|
(70 |
) |
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total |
|
$ |
957 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total consideration |
|
$ |
1,399 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| Schedule of unaudited pro forma information summarizing the results of operations |
|
|
|
|
|
|
|
|
|
|
Years ended December 31, |
|
|
|
2011 |
|
2012 |
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
Net revenues |
|
$ |
222,836 |
|
$ |
359,352 |
|
|
Net income |
|
|
17,458 |
|
|
2,553 |
|
|
Net income per share |
|
|
|
|
|
|
|
|
—Basic |
|
$ |
0.43 |
|
$ |
0.05 |
|
| |
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
—Diluted |
|
$ |
0.41 |
|
$ |
0.05 |
|
| |
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
Longhaul
|
|
| ACQUISITIONS |
|
| Schedule of purchase price allocation to assets acquired and liabilities assumed |
|
|
|
|
|
|
|
|
|
|
Estimated
useful lives |
|
Intangible assets acquired: |
|
|
|
|
|
|
Customer relationship |
|
|
190 |
|
3.5 years |
|
Contract backlog |
|
|
27 |
|
0.25 year |
|
Non-compete agreement |
|
|
262 |
|
4 years |
|
Goodwill |
|
|
1,015 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total |
|
$ |
1,494 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total consideration |
|
$ |
1,494 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| Schedule of unaudited pro forma information summarizing the results of operations |
|
|
|
|
|
|
|
|
|
|
Years ended December 31, |
|
|
|
2011 |
|
2012 |
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
Net revenues |
|
$ |
220,733 |
|
$ |
359,322 |
|
|
Net income |
|
|
17,858 |
|
|
2,583 |
|
|
Net income per share |
|
|
|
|
|
|
|
|
—Basic |
|
$ |
0.44 |
|
|
0.05 |
|
| |
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
—Diluted |
|
$ |
0.42 |
|
|
0.05 |
|
| |
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
Glory
|
|
| ACQUISITIONS |
|
| Schedule of purchase price allocation to assets acquired and liabilities assumed |
|
|
|
|
|
|
|
|
|
|
Estimated
useful lives |
|
Net tangible assets: |
|
|
|
|
|
|
Current assets |
|
$ |
1,465 |
|
|
|
Current liabilities |
|
|
(1,879 |
) |
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total |
|
$ |
(414 |
) |
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Intangible assets acquired: |
|
|
|
|
|
|
Customer relationship |
|
|
959 |
|
5 years |
|
Contract backlog |
|
|
530 |
|
1 year |
|
Trade name |
|
|
2,149 |
|
Indefinite |
|
Non-compete clause |
|
|
225 |
|
5 years |
|
Goodwill |
|
|
3,746 |
|
|
|
Deferred tax liability |
|
|
(579 |
) |
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total |
|
$ |
7,030 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total consideration |
|
$ |
6,616 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| Schedule of unaudited pro forma information summarizing the results of operations |
|
|
|
|
|
|
|
|
|
|
Years ended December 31, |
|
|
|
2011 |
|
2012 |
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
Net revenues |
|
$ |
223,225 |
|
$ |
360,796 |
|
|
Net income |
|
|
18,050 |
|
|
2,652 |
|
|
Net income per share |
|
|
|
|
|
|
|
|
—Basic |
|
$ |
0.44 |
|
$ |
0.06 |
|
| |
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
—Diluted |
|
$ |
0.42 |
|
$ |
0.05 |
|
| |
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
Bearing Point
|
|
| ACQUISITIONS |
|
| Schedule of purchase price allocation to assets acquired and liabilities assumed |
|
|
|
|
|
|
|
|
|
|
Estimated
useful lives |
|
Net tangible assets: |
|
|
|
|
|
|
Assets |
|
$ |
6,729 |
|
|
|
Liabilities |
|
|
(5,180 |
) |
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total |
|
$ |
1,549 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Intangible assets acquired: |
|
|
|
|
|
|
Customer relationship |
|
|
1,845 |
|
5 years |
|
Trade name |
|
|
512 |
|
2 years |
|
Goodwill |
|
|
4,266 |
|
|
|
Deferred tax liability |
|
|
(707 |
) |
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total |
|
$ |
5,916 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total consideration |
|
$ |
7,465 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| Schedule of unaudited pro forma information summarizing the results of operations |
|
|
|
|
|
|
|
|
|
|
Years ended December 31, |
|
|
|
2011 |
|
2012 |
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
Net revenues |
|
$ |
238,002 |
|
$ |
368,538 |
|
|
Net income |
|
|
17,690 |
|
|
2,484 |
|
|
Net income per share |
|
|
|
|
|
|
|
|
—Basic |
|
$ |
0.44 |
|
$ |
0.05 |
|
| |
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
—Diluted |
|
$ |
0.41 |
|
$ |
0.05 |
|
| |
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
Newton
|
|
| ACQUISITIONS |
|
| Schedule of purchase price allocation to assets acquired and liabilities assumed |
|
|
|
|
|
|
|
|
|
|
Estimated
useful lives |
|
Net tangible assets: |
|
|
|
|
|
|
Assets |
|
$ |
936 |
|
|
|
Liabilities |
|
|
(465 |
) |
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total |
|
$ |
471 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Intangible assets acquired: |
|
|
|
|
|
|
Acquired software |
|
|
168 |
|
5 years |
|
Contract backlog |
|
|
3 |
|
0.5 year |
|
Customer relationship |
|
|
434 |
|
5 years |
|
Goodwill |
|
|
557 |
|
|
|
Deferred tax liability |
|
|
(169 |
) |
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total |
|
$ |
993 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total consideration |
|
$ |
1,464 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| Schedule of unaudited pro forma information summarizing the results of operations |
|
|
|
|
|
|
|
|
|
|
Years ended December 31, |
|
|
|
2011 |
|
2012 |
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
Net revenues |
|
$ |
221,197 |
|
$ |
360,319 |
|
|
Net income |
|
|
17,425 |
|
|
2,313 |
|
|
Net income per share |
|
|
|
|
|
|
|
|
—Basic |
|
$ |
0.43 |
|
$ |
0.05 |
|
| |
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
—Diluted |
|
$ |
0.41 |
|
$ |
0.05 |
|
| |
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
VanceInfo
|
|
| ACQUISITIONS |
|
| Schedule of purchase price allocation to assets acquired and liabilities assumed |
|
|
|
|
|
|
|
|
|
|
Estimated
useful lives |
|
Net tangible assets: |
|
|
|
|
|
|
Assets |
|
$ |
319,072 |
|
|
|
Liabilities |
|
|
(81,715 |
) |
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total |
|
$ |
237,357 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Intangible assets acquired: |
|
|
|
|
|
|
Customer relationship |
|
|
11,540 |
|
4 – 6 years |
|
Trade name |
|
|
27,840 |
|
2 years – indefinite |
|
Software technology |
|
|
2,290 |
|
4 – 5 years |
|
Contract backlog |
|
|
910 |
|
2 years |
|
Non-compete agreement |
|
|
1,400 |
|
1 – 4 years |
|
Goodwill |
|
|
54,407 |
|
|
|
Deferred tax liability |
|
|
(8,966 |
) |
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total |
|
$ |
89,421 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
Total consideration |
|
$ |
326,778 |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| Schedule of unaudited pro forma information summarizing the results of operations |
|
|
|
|
|
|
|
|
|
|
Years ended December 31, |
|
|
|
2011 |
|
2012 |
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
Net revenues |
|
$ |
502,126 |
|
$ |
673,266 |
|
|
Net income/(loss) |
|
|
39,532 |
|
|
1,807 |
|
|
Net income/(loss) per share |
|
|
|
|
|
|
|
|
—Basic |
|
$ |
0.47 |
|
$ |
0.02 |
|
| |
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
—Diluted |
|
$ |
0.45 |
|
$ |
0.02 |
|
| |
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
| Schedule of total consideration |
|
|
|
|
|
|
Issuance of common shares |
|
|
42,517 |
|
|
Closing price on transaction date |
|
$ |
7.49 |
|
| |
|
|
|
| |
|
|
|
|
|
Stock consideration |
|
$ |
318,451 |
|
|
Fair value of vested VanceInfo stock options and RSU |
|
|
8,327 |
|
| |
|
|
|
| |
|
|
|
|
|
Total consideration |
|
$ |
326,778 |
|
| |
|
|
|
| |
|
|
|
|
| |
|
|
|
|
| |
|
|
|
|