Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 01, 2013 | |
Document and Entity Information | ' | ' |
Entity Registrant Name | 'TANGOE INC | ' |
Entity Central Index Key | '0001182325 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 38,243,892 |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
CURRENT ASSETS: | ' | ' |
Cash and cash equivalents | $42,258 | $50,211 |
Accounts receivable, less allowances of $198 and $345, respectively | 40,656 | 38,309 |
Prepaid expenses and other current assets | 5,177 | 3,384 |
Total current assets | 88,091 | 91,904 |
COMPUTERS, FURNITURE AND EQUIPMENT-NET | 4,248 | 3,999 |
OTHER ASSETS: | ' | ' |
Intangible assets-net | 38,766 | 44,249 |
Goodwill | 65,993 | 65,825 |
Security deposits and other non-current assets | 981 | 1,291 |
TOTAL ASSETS | 198,079 | 207,268 |
CURRENT LIABILITIES: | ' | ' |
Accounts payable | 9,494 | 9,128 |
Accrued expenses | 9,442 | 12,035 |
Deferred revenue-current portion | 9,695 | 9,648 |
Notes payable-current portion | 3,372 | 22,443 |
Other current liabilities | 533 | 305 |
Total current liabilities | 32,536 | 53,559 |
OTHER LIABILITIES: | ' | ' |
Deferred rent and other non-current liabilities | 3,477 | 3,543 |
Deferred revenue-less current portion | 1,566 | 1,415 |
Notes payable-less current portion | 201 | 131 |
Total liabilities | 37,780 | 58,648 |
COMMITMENTS AND CONTINGENCIES (NOTE 12) | ' | ' |
STOCKHOLDERS' EQUITY | ' | ' |
Common stock, par value $0.0001 per share-150,000,000 shares authorized as of December 31, 2012 and September 30, 2013; 37,613,327 and 38,125,858 shares issued and outstanding as of December 31, 2012 and September 30, 2013, respectively | 4 | 4 |
Additional paid-in capital | 200,762 | 191,581 |
Warrants for common stock | 10,610 | 10,610 |
Accumulated deficit | -50,528 | -53,757 |
Other comprehensive gain (loss) | -549 | 182 |
Total stockholders' equity | 160,299 | 148,620 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $198,079 | $207,268 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Condensed Consolidated Balance Sheets | ' | ' |
Accounts receivable, allowances (in dollars) | $345 | $198 |
Common stock, par value (in dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized | 150,000,000 | 150,000,000 |
Common stock, shares issued | 38,125,858 | 37,613,327 |
Common stock, shares outstanding | 38,125,858 | 37,613,327 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenue: | ' | ' | ' | ' |
Recurring technology and services | $42,623 | $36,138 | $124,056 | $98,969 |
Strategic consulting, software licenses and other | 4,997 | 4,000 | 14,831 | 11,573 |
Total revenue | 47,620 | 40,138 | 138,887 | 110,542 |
Cost of revenue: | ' | ' | ' | ' |
Recurring technology and services | 19,019 | 16,696 | 56,645 | 45,809 |
Strategic consulting, software licenses and other | 2,327 | 1,588 | 6,353 | 4,835 |
Total cost of revenue | 21,346 | 18,284 | 62,998 | 50,644 |
Gross profit | 26,274 | 21,854 | 75,889 | 59,898 |
Operating expenses: | ' | ' | ' | ' |
Sales and marketing | 8,504 | 6,275 | 24,101 | 17,732 |
General and administrative | 8,953 | 8,083 | 25,749 | 21,830 |
Research and development | 4,907 | 4,263 | 14,656 | 12,126 |
Depreciation and amortization | 2,586 | 2,297 | 7,623 | 6,168 |
Restructuring charge | ' | ' | 654 | ' |
Income from operations | 1,324 | 936 | 3,106 | 2,042 |
Other income (expense), net | ' | ' | ' | ' |
Interest expense | -89 | -256 | -352 | -683 |
Interest income | 15 | 22 | 50 | 60 |
Other income | 327 | ' | 1,093 | ' |
Income before income tax provision | 1,577 | 702 | 3,897 | 1,419 |
Income tax provision | 22 | 121 | 668 | 308 |
Net income | $1,555 | $581 | $3,229 | $1,111 |
Income per common share: | ' | ' | ' | ' |
Basic (in dollars per share) | $0.04 | $0.02 | $0.09 | $0.03 |
Diluted (in dollars per share) | $0.04 | $0.01 | $0.08 | $0.03 |
Weighted average number of common shares: | ' | ' | ' | ' |
Basic (in shares) | 37,698 | 37,410 | 37,546 | 36,079 |
Diluted (in shares) | 40,872 | 40,963 | 40,240 | 39,616 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Condensed Consolidated Statements of Comprehensive Income | ' | ' | ' | ' |
Net income | $1,555 | $581 | $3,229 | $1,111 |
Foreign currency translation adjustment | 427 | 556 | -731 | 309 |
Total comprehensive income | $1,982 | $1,137 | $2,498 | $1,420 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statement of Changes in Stockholders' Equity (USD $) | Total | Common Stock | Additional Paid-In Capital | Common Stock Warrants | Accumulated Deficit | Other Comprehensive Income (loss) |
In Thousands, except Share data, unless otherwise specified | ||||||
Balance at Dec. 31, 2012 | $148,620 | $4 | $191,581 | $10,610 | ($53,757) | $182 |
Balance (in shares) at Dec. 31, 2012 | ' | 37,480,710 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | ' |
Net income | 3,229 | ' | ' | ' | 3,229 | ' |
Foreign currency translation adjustment | -731 | ' | ' | ' | ' | -731 |
Issuance of shares to employees and board of directors | 363 | ' | 363 | ' | ' | ' |
Issuance of shares to employees and board of directors (in shares) | ' | 64,966 | ' | ' | ' | ' |
Issuance of shares from exercise of stock options | 3,912 | ' | 3,912 | ' | ' | ' |
Issuance of shares from exercise of stock options (in shares) | ' | 847,134 | ' | ' | ' | ' |
Issuance of shares from exercise of stock warrants | 34 | ' | 34 | ' | ' | ' |
Issuance of shares from exercise of stock warrants (in shares) | ' | 14,907 | ' | ' | ' | ' |
Issuance of shares from vesting of restricted stock units (in shares) | ' | 84,100 | ' | ' | ' | ' |
Repurchase of common stock | -4,538 | ' | -4,538 | ' | ' | ' |
Repurchase of common stock (in shares) | ' | -365,959 | ' | ' | ' | ' |
Stock-based compensation | 9,410 | ' | 9,410 | ' | ' | ' |
Balance at Sep. 30, 2013 | $160,299 | $4 | $200,762 | $10,610 | ($50,528) | ($549) |
Balance (in shares) at Sep. 30, 2013 | ' | 38,125,858 | ' | ' | ' | ' |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Operating activities: | ' | ' |
Net income | $3,229 | $1,111 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Amortization of debt discount | 280 | 570 |
Amortization of leasehold interest | -74 | -74 |
Depreciation and amortization | 7,623 | 6,168 |
Increase (decrease) in deferred rent liability | -36 | 34 |
Amortization of marketing agreement intangible assets | 194 | 119 |
Allowance for doubful accounts | 68 | ' |
Deferred income taxes | 282 | 75 |
Stock based compensation | 9,773 | 6,539 |
Restructuring charge | 654 | ' |
Foreign exchange adjustment | -138 | 40 |
Decrease in fair value of contingent consideration | -1,041 | ' |
Changes in assets and liabilities, net of acquisitions: | ' | ' |
Accounts receivable | -2,465 | -826 |
Prepaid expenses and other assets | -1,048 | 783 |
Other assets | 127 | -136 |
Accounts payable | 195 | 459 |
Accrued expenses | -1,656 | 113 |
Deferred revenue | 616 | -1,440 |
Net cash provided by operating activities | 16,583 | 13,535 |
Investing activities: | ' | ' |
Purchases of computers, furniture and equipment | -1,800 | -1,333 |
Cash paid in connection with acquisitions, net of cash received | -19,543 | -38,410 |
Net cash used in investing activities | -21,343 | -39,743 |
Financing activities: | ' | ' |
Repayment of debt | -745 | -2,986 |
Proceeds from repayment of notes receivable | ' | 93 |
Repurchase of common stock | -6,235 | ' |
Proceeds from exercise of stock options and stock warrants | 3,946 | 3,741 |
Proceeds from follow on offering, net of issuance costs | ' | 37,729 |
Net cash provided by (used in) financing activities | -3,034 | 38,577 |
Effect of exchange rate on cash | -159 | -40 |
Net increase (decrease) in cash and cash equivalents | -7,953 | 12,329 |
Cash and cash equivalents, beginning of period | 50,211 | 43,407 |
Cash and cash equivalents, end of period | $42,258 | $55,736 |
Organization_Description_of_Bu
Organization, Description of Business | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Description of Business | ' |
Organization, Description of Business | ' |
1. Organization, Description of Business | |
Nature of Operations | |
Tangoe, Inc. (the “Company”), a Delaware corporation, was incorporated on February 9, 2000 as TelecomRFQ, Inc. During 2001, the Company changed its name to Tangoe, Inc. The Company provides communications lifecycle management software and related services to a wide range of enterprises, including large and medium-sized businesses and other organizations. Communications lifecycle management encompasses the entire lifecycle of an enterprise’s communications assets and services, including planning and sourcing, procurement and provisioning, inventory and usage management, mobile device management, real-time telecommunications expense management, invoice processing, expense allocation and accounting, forward and reverse logistics and asset decommissioning and disposal. The Company’s Communications Management Platform is an on-demand suite of software designed to manage and optimize the complex processes and expenses associated with this lifecycle for both fixed and mobile communications assets and services. The Company’s customers can also engage the Company through its client services group to manage their communications assets and services through its Communications Management Platform. | |
Public Offerings | |
In August 2011, the Company completed its initial public offering whereby it sold 7,500,000 shares of common stock at a price to the public of $10.00 per share. The Company received proceeds from its initial public offering of $66.0 million, net of underwriting discounts and commissions and other offering costs of $3.8 million. | |
As part of the initial public offering, an additional 2,585,500 shares of common stock were sold by certain existing stockholders at a price to the public of $10.00 per share, including 1,315,500 shares sold by such stockholders upon the exercise of the underwriters’ option to purchase additional shares. The Company did not receive any proceeds from the sale of such shares by the selling stockholders. | |
In April 2012, the Company completed a public offering whereby it sold 2,200,000 shares of common stock at a price to the public of $18.50 per share. The Company received proceeds from this public offering of $38.5 million, net of underwriting discounts and commissions but before offering costs of $0.7 million. | |
As part of this public offering, an additional 7,000,000 shares of common stock were sold by certain existing stockholders at a price to the public of $18.50 per share, including 1,200,000 shares sold by such stockholders upon the exercise of the underwriters’ option to purchase additional shares. The Company did not receive any proceeds from the sale of such shares by the selling stockholders. | |
The Company’s common stock is traded on the NASDAQ Global Select Market. | |
Basis of Presentation of Interim Financial Statements | |
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for the fair statement of the Company’s financial position and results of operations for the periods presented have been included. Operating results for the three and nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013, for any other interim period or for any other future year. | |
The consolidated balance sheet at December 31, 2012 has been derived from the audited financial statements at that date, but does not include all of the disclosures required by GAAP. The accompanying condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012 as filed with the Securities Exchange Commission (“SEC”) on March 18, 2013 (the “2012 Form 10-K”). | |
Significant Accounting Policies | |
The Company’s significant accounting policies are disclosed in the audited consolidated financial statements for the year ended December 31, 2012 included in the 2012 Form 10-K. Since the date of those financial statements, there have been no material changes to the Company’s significant accounting policies. | |
Business_Combinations
Business Combinations | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Business Combinations | ' | |||||||||||||
Business Combinations | ' | |||||||||||||
2. Business Combinations | ||||||||||||||
Anomalous Networks, Inc. | ||||||||||||||
On January 10, 2012 (the “Anomalous Acquisition Date”), the Company entered into a Share Purchase Agreement (the “Anomalous Purchase Agreement”) with Anomalous Networks Inc., a corporation incorporated under the laws of Canada (“Anomalous”), and the shareholders of Anomalous, under which the Company agreed to purchase all of the outstanding equity of Anomalous (the “Anomalous Share Purchase”). This acquisition reflects the Company’s strategy to broaden its suite of offerings and to provide real-time telecommunication expense management capabilities. On the same day, the Anomalous Share Purchase was effected in accordance with the terms of the Anomalous Purchase Agreement with the Company acquiring all of the outstanding equity of Anomalous for aggregate consideration of (i) approximately $3,500,000 in cash paid at the closing, (ii) $979,000 in cash payable on the first anniversary of the closing, (iii) 165,775 unregistered shares of the Company’s common stock and (iv) 132,617 unvested and unregistered shares of the Company’s common stock with vesting based on achievement of revenue targets relating to sales of Anomalous products and services for periods through January 31, 2013. The Company paid the full $979,000 of deferred cash consideration in January 2013. In March 2013, the 132,617 unvested and unregistered shares of the Company’s common stock were cancelled and retired because the revenue targets related to sales of Anomalous products and services were not achieved. | ||||||||||||||
Anomalous Purchase Price Allocation | ||||||||||||||
The allocation of the total purchase price of Anomalous’ net tangible and identifiable intangible assets was based upon the estimated fair value of those assets as of January 10, 2012. In accordance with Accounting Standards Classification (“ASC”) 805, Business Combinations, the Company valued the 165,775 of unregistered shares of common stock by using the closing price of the Company’s common stock on the NASDAQ Global Market on the acquisition date and applying a 20% marketability discount to the fair value of the unregistered shares. The marketability discount was applied since the unregistered shares were subject to a lock-up period of one year. The Company allocated the excess of purchase price over the identifiable intangible and net tangible assets to goodwill. The following table presents the breakdown between cash and deferred purchase price and the allocation of the total purchase price (in thousands): | ||||||||||||||
Purchase consideration: | ||||||||||||||
Cash | $ | 3,521 | ||||||||||||
Common stock | 1,984 | |||||||||||||
Deferred cash consideration | 1,495 | |||||||||||||
$ | 7,000 | |||||||||||||
Allocation of Purchase Consideration: | ||||||||||||||
Current assets | $ | 1,140 | ||||||||||||
Property and equipment | 47 | |||||||||||||
Other assets | 10 | |||||||||||||
Identifiable intangible assets | 2,857 | |||||||||||||
Goodwill | 4,477 | |||||||||||||
Total assets acquired | 8,531 | |||||||||||||
Accounts payable and accrued expenses | (394 | ) | ||||||||||||
Deferred taxes | (767 | ) | ||||||||||||
Deferred revenue | (370 | ) | ||||||||||||
$ | 7,000 | |||||||||||||
The goodwill and identifiable intangible assets related to the Anomalous acquisition are not tax deductible. The Company estimated the fair value of intangible assets using the income, cost and market approaches to value the identifiable intangible assets, which are subject to amortization. The following table presents the Company’s estimates of fair value of the identifiable intangible assets acquired (in thousands): | ||||||||||||||
Description | Fair Value | Weighted Average | ||||||||||||
Useful Life | ||||||||||||||
(in years) | ||||||||||||||
Technology | $ | 2,017 | 5 | |||||||||||
Non-compete covenants | 553 | 2 | ||||||||||||
Customer relationships | 236 | 4 | ||||||||||||
Tradenames | 51 | 3 | ||||||||||||
Total identifiable intangible assets | $ | 2,857 | ||||||||||||
ttMobiles Limited | ||||||||||||||
On February 21, 2012 (the “ttMobiles Acquisition Date”), the Company entered into a Share Purchase Agreement (the “ttMobiles Purchase Agreement”), with the holders of all of the issued share capital of ttMobiles Limited, a private limited company incorporated in England (“ttMobiles”), under which the Company agreed to purchase all of the issued share capital of ttMobiles (the “ttMobiles Share Purchase”). On the same day, the ttMobiles Share Purchase was effected in accordance with the terms of the ttMobiles Purchase Agreement, with the Company acquiring all of the outstanding equity of ttMobiles for aggregate consideration of (i) £4.0 million in cash paid at the closing, and (ii) £1.5 million in cash payable on the first anniversary of the closing (the “Deferred Consideration”). The Company paid the full £1.5 million of Deferred Consideration in February 2013. | ||||||||||||||
ttMobiles Purchase Price Allocation | ||||||||||||||
The allocation of the total purchase price of ttMobiles’ net tangible and identifiable intangible assets was based upon the estimated fair value of those assets as of February 21, 2012. The Company allocated the excess of purchase price over the identifiable intangible and net tangible assets to goodwill. The following table presents the breakdown between cash and deferred purchase price and the allocation of the total purchase price (in thousands): | ||||||||||||||
Purchase consideration: | ||||||||||||||
Cash | $ | 6,359 | ||||||||||||
Deferred cash consideration | 2,315 | |||||||||||||
$ | 8,674 | |||||||||||||
Allocation of Purchase Consideration: | ||||||||||||||
Current assets | $ | 2,469 | ||||||||||||
Property and equipment | 188 | |||||||||||||
Identifiable intangible assets | 4,288 | |||||||||||||
Goodwill | 3,557 | |||||||||||||
Total assets acquired | 10,502 | |||||||||||||
Accounts payable and accrued expenses | (848 | ) | ||||||||||||
Deferred taxes | (954 | ) | ||||||||||||
Deferred revenue | (26 | ) | ||||||||||||
$ | 8,674 | |||||||||||||
The goodwill and identifiable intangible assets related to the ttMobiles acquisition are not tax deductible. The Company estimated the fair value of intangible assets using the income, cost and market approaches to value the identifiable intangible assets, which are subject to amortization. The following table presents the Company’s estimates of fair value of the identifiable intangible assets acquired (in thousands): | ||||||||||||||
Description | Fair Value | Weighted Average | ||||||||||||
Useful Life | ||||||||||||||
(in years) | ||||||||||||||
Customer relationships | $ | 2,606 | 9 | |||||||||||
Technology | 1,178 | 5 | ||||||||||||
Tradenames | 388 | 4 | ||||||||||||
Non-compete covenants | 116 | 2 | ||||||||||||
Total identifiable intangible assets | $ | 4,288 | ||||||||||||
Symphony Teleca Services, Inc. | ||||||||||||||
On August 8, 2012, the Company entered into an Asset Purchase Agreement (the “Symphony Purchase Agreement”) with Symphony Teleca Services, Inc., a Delaware corporation (“Symphony”), under which the parties agreed to the purchase by the Company of Symphony’s telecommunications expense management business (the “TEM Business”) through an asset purchase (the “Symphony Acquisition”). As part of the Symphony Acquisition and also on August 8, 2012, a newly formed subsidiary of the Company, Tangoe India Softek Services Private Limited, an Indian private limited company (“Tangoe India”), entered into a Business Purchase Agreement (the “Indian Purchase Agreement”) with Symphony Services Corporation (India) Private Limited (“Symphony India”) with respect to the purchase of certain assets and hiring of employees of the acquired business located in India. On the same day, the Symphony Acquisition was effected in accordance with the terms of the Symphony Purchase Agreement. At the closing of the Symphony Acquisition, the Company acquired the TEM Business for net consideration of $40.2 million, subject to certain adjustments (the “Cash Purchase Price”), payable as described below, plus an earn-out payable in the amount of up to $4.0 million based on achievement of revenue targets for the acquired business for periods through June 30, 2013. No earn-out is payable because the revenue targets were not achieved. The Cash Purchase Price, after giving effect to certain adjustments, is payable as follows: (i) approximately $29.2 million in cash paid at the closing, (ii) approximately $4.4 million in cash payable on the six-month anniversary of the closing, which includes $2.5 million related to the Indian Purchase Agreement, and (iii) approximately $6.4 million in cash payable on the one-year anniversary of the closing. As part of the Symphony Acquisition, the Company acquired a balance sheet for the TEM Business, which included net assets of approximately $5.4 million. The Company made the six-month anniversary payment of $4.4 million in February 2013. The full installment due on August 8, 2013 of approximately $6.4 million, and amounts that became payable under the earn-out, were subject to set-off rights of the Company with respect to indemnities given by Symphony under the Symphony Purchase Agreement. Among other things, these indemnity obligations related to representations and warranties given by Symphony under the Symphony Purchase Agreement and by Symphony India under the Indian Purchase Agreement. Certain of the indemnities were subject to limitations, including a threshold and deductible, certain caps and limited survival periods. The Company made a payment on the one-year anniversary of the closing in the amount of $4.9 million, consisting of the one-year anniversary payment of $6.4 million less $1.3 million withheld pending the resolution of certain indemnity matters, and less a net asset adjustment based on the final closing balance sheet of $0.2 million. In October 2013, the Company and Symphony resolved the indemnity matters and the Company paid the $1.3 million that it had previously deducted from the one-year anniversary payment. During a post-closing transition period that lasted through February 2013, Symphony and Symphony India provided to the Company certain transition services pending completion of the opening of certain Tangoe India facilities, the procurement of certain Indian tax registrations and the subsequent transfer to Tangoe India of the Indian assets and employees being hired. These services included making available to the Company on a continuing basis the services previously provided by Symphony India to the TEM Business. | ||||||||||||||
Symphony Purchase Price Allocation | ||||||||||||||
The allocation of the total purchase price of Symphony’s net tangible and identifiable intangible assets was based upon estimated fair values of those assets as of August 8, 2012. The Company allocated the excess of purchase price over the identifiable intangible and net tangible assets to goodwill. The following table presents the breakdown between cash and deferred purchase price and the allocation of the total purchase price (in thousands): | ||||||||||||||
Purchase consideration: | ||||||||||||||
Cash | $ | 29,208 | ||||||||||||
Deferred cash consideration | 10,793 | |||||||||||||
$ | 40,001 | |||||||||||||
Allocation of Purchase Consideration: | ||||||||||||||
Current assets | $ | 5,628 | ||||||||||||
Property and equipment | 602 | |||||||||||||
Identifiable intangible assets | 13,790 | |||||||||||||
Goodwill | 20,936 | |||||||||||||
Total assets acquired | 40,956 | |||||||||||||
Accounts payable and accrued expenses | (335 | ) | ||||||||||||
Deferred revenue | (620 | ) | ||||||||||||
$ | 40,001 | |||||||||||||
The goodwill and identifiable intangible assets related to the Symphony acquisition are tax deductible. The Company estimated the fair value of intangible assets using the income, cost and market approaches to value the identifiable intangible assets, which are subject to amortization. The following table presents the Company’s estimates of fair value of the identifiable intangible assets acquired (in thousands): | ||||||||||||||
Description | Fair Value | Weighted Average | ||||||||||||
Useful Life | ||||||||||||||
(in years) | ||||||||||||||
Customer relationships | $ | 9,680 | 9 | |||||||||||
Technology | 4,050 | 5 | ||||||||||||
Tradename | 60 | 3 | ||||||||||||
Total identifiable intangible assets | $ | 13,790 | ||||||||||||
oneTEM GmbH | ||||||||||||||
On April 18, 2013 (“oneTEM Closing Date”), the Company entered into a Share Purchase Agreement (the “oneTEM Purchase Agreement”), with the holders of all of the issued share capital of oneTEM GmbH, a private limited company incorporated in Germany (“oneTEM”), under which the Company agreed to purchase all of the issued share capital of oneTEM (the “oneTEM Share Purchase”). This acquisition reflects the Company’s continued strategy to expand in the European marketplace. On the oneTEM Closing Date, the oneTEM Share Purchase was effected in accordance with the terms of the oneTEM Purchase Agreement, with the Company acquiring all of the outstanding equity of oneTEM for aggregate consideration of (i) €0.9 million in cash paid at the closing, and (ii) deferred consideration of €0.4 million in cash payable on the first anniversary of the closing. In addition, the Company is obligated to pay additional deferred cash consideration following the first four anniversaries of the oneTEM Closing Date, pursuant to an earn-out formula based upon the business beginning to generate annual recurring revenue from specified customers and then year-over-year increases in annual recurring revenue from those specified customers during the earn-out periods. The earn-out period begins with the first full month after the oneTEM Closing Date and continues for four consecutive 12-month periods. The Company valued this contingent consideration at €0.2 million. The purchase is subject to a net asset adjustment pursuant to which the purchase price would be increased or decreased to the extent the net asset position of oneTEM is more or less than a specified target. The deferred consideration is subject to set-off rights of the Company with respect to certain indemnities given by the former holders of the issued share capital of oneTEM under the oneTEM Purchase Agreement until the deferred consideration is paid in full. The Company has included the operating results of oneTEM in its consolidated financial statements since the date of acquisition, including $0.3 million of strategic consulting, software licenses and other revenue. | ||||||||||||||
oneTEM Purchase Price Allocation | ||||||||||||||
The allocation of the total purchase price of oneTEM’s net tangible and identifiable intangible assets was based upon management’s preliminary estimate of the fair values of those assets taking into account all relevant information available. Actual amounts for each of the fair values of the assets acquired and liabilities assumed may vary. The Company allocated the excess of purchase price over the identifiable intangible and net tangible assets to goodwill. The following table presents the breakdown between cash and deferred purchase price and the allocation of the total purchase price (in thousands): | ||||||||||||||
Purchase consideration: | ||||||||||||||
Cash | $ | 1,221 | ||||||||||||
Deferred cash consideration | 433 | |||||||||||||
Fair value of contingent consideration | 183 | |||||||||||||
$ | 1,837 | |||||||||||||
Allocation of Purchase Consideration: | ||||||||||||||
Current assets | $ | 565 | ||||||||||||
Property and equipment | 10 | |||||||||||||
Identifiable intangible assets | 870 | |||||||||||||
Goodwill | 655 | |||||||||||||
Total assets acquired | 2,100 | |||||||||||||
Accounts payable and accrued expenses | (152 | ) | ||||||||||||
Taxes payable | (111 | ) | ||||||||||||
$ | 1,837 | |||||||||||||
The goodwill and identifiable intangible assets related to the oneTEM acquisition are not tax deductible. The Company estimated the fair value of intangible assets using the income, cost and market approaches to value the identifiable intangible assets, which are subject to amortization. The following table presents the Company’s estimates of fair value of the identifiable intangible assets acquired (in thousands): | ||||||||||||||
Description | Fair Value | Weighted Average | ||||||||||||
Useful Life | ||||||||||||||
(in years) | ||||||||||||||
Customer relationships | $ | 535 | 8 | |||||||||||
Covenants not to compete | 298 | 2 | ||||||||||||
Tradename | 37 | 2.7 | ||||||||||||
Total identifiable intangible assets | $ | 870 | ||||||||||||
Unaudited Pro Forma Results | ||||||||||||||
The following table presents the unaudited pro forma results of the Company for the three and nine months ended September 30, 2012 and 2013 as if the acquisitions of Anomalous, ttMobiles and oneTEM occurred at the beginning of 2012. Due to the inability of the Company to anticipate and estimate on a forward-looking basis incremental costs allocated to the Symphony TEM Business by Symphony and the uncertainty and difficulty of calculating the specific costs required to meaningfully present the effects of the acquisition and the costs of operating the Symphony TEM Business, the Company has not included the Symphony TEM Business in the unaudited pro forma results for the three and nine months ended September 30, 2012 below. The unaudited pro forma revenue for the Symphony TEM Business was $2.4 million for the period of July 1, 2012 through August 8, 2012, the acquisition date, and $13.0 million for the period of January 1, 2012 through August 8, 2012, the acquisition date. The unaudited pro forma revenue for the Symphony TEM Business for the three and nine months ended September 30, 2012 is not included in the unaudited pro forma results below. These results are not intended to reflect the actual operations of the Company had these acquisitions occurred at January 1, 2012. | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
September 30, | September 30, | |||||||||||||
(in thousands, except per share amounts) | 2012 | 2013 | 2012 | 2013 | ||||||||||
Revenue | $ | 40,458 | $ | 47,620 | $ | 113,337 | $ | 139,138 | ||||||
Operating income | 967 | 1,324 | 2,128 | 3,004 | ||||||||||
Net income | 584 | 1,555 | 1,094 | 3,127 | ||||||||||
Basic income per common share | $ | 0.02 | $ | 0.04 | $ | 0.03 | $ | 0.08 | ||||||
Diluted income per common share | $ | 0.01 | $ | 0.04 | $ | 0.03 | $ | 0.08 |
Income_per_Share_Applicable_to
Income per Share Applicable to Common Stockholders | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Income per Share Applicable to Common Stockholders | ' | |||||||||||||
Income per Share Applicable to Common Stockholders | ' | |||||||||||||
3. Income per Share Applicable to Common Stockholders | ||||||||||||||
The following table sets forth the computations of income per share applicable to common stockholders for the three and nine months ended September 30, 2012 and 2013: | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
September 30, | September 30, | |||||||||||||
(in thousands, except per share amounts) | 2012 | 2013 | 2012 | 2013 | ||||||||||
Basic net income per common share | ||||||||||||||
Net income | $ | 581 | $ | 1,555 | $ | 1,111 | $ | 3,229 | ||||||
Basic income per common share | $ | 0.02 | $ | 0.04 | $ | 0.03 | $ | 0.09 | ||||||
Weighted-average common shares outstanding | 37,410 | 37,698 | 36,079 | 37,546 | ||||||||||
Diluted net income per common share | ||||||||||||||
Net income | $ | 581 | $ | 1,555 | $ | 1,111 | $ | 3,229 | ||||||
Diluted income per common share | $ | 0.01 | $ | 0.04 | $ | 0.03 | $ | 0.08 | ||||||
Weighted-average common shares used to compute diluted net income per share | 40,963 | 40,872 | 39,616 | 40,240 | ||||||||||
Diluted income per common share for the periods presented does not reflect the following potential common shares as the effect would be anti-dilutive. | ||||||||||||||
Outstanding stock options | 2,169 | 2,315 | 2,169 | 2,565 | ||||||||||
Outstanding restricted stock units | 176 | 476 | 173 | 587 | ||||||||||
Common stock warrants | 10 | 7 | 10 | 9 |
Computers_Furniture_and_Equipm
Computers, Furniture and Equipment-Net | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Computers, Furniture and Equipment-Net | ' | |||||||
Computers, Furniture and Equipment-Net | ' | |||||||
4. Computers, Furniture and Equipment-Net | ||||||||
Computers, furniture and equipment-net consist of: | ||||||||
As of | ||||||||
December 31, | September 30, | |||||||
(in thousands) | 2012 | 2013 | ||||||
Computers and software | $ | 10,018 | $ | 11,499 | ||||
Furniture and fixtures | 1,032 | 1,174 | ||||||
Leasehold improvements | 1,166 | 1,360 | ||||||
12,216 | 14,033 | |||||||
Less accumulated depreciation | (8,217 | ) | (9,785 | ) | ||||
Computers, furniture and equipment-net | $ | 3,999 | $ | 4,248 | ||||
Computers and software includes equipment under capital leases totaling approximately $2.5 million at December 31, 2012 and September 30, 2013. Accumulated depreciation on equipment under capital leases totaled approximately $2.0 million and $2.3 million as of December 31, 2012 and September 30, 2013, respectively. Depreciation and amortization expense associated with computers, furniture and equipment was $1.5 million and $1.6 million for the nine months ended September 30, 2012 and 2013, respectively. | ||||||||
Intangible_Assets_and_Goodwill
Intangible Assets and Goodwill | 9 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Intangible Assets and Goodwill | ' | |||||||||
Intangible Assets and Goodwill | ' | |||||||||
5. Intangible Assets and Goodwill | ||||||||||
The following table presents the components of the Company’s intangible assets as of December 31, 2012 and September 30, 2013: | ||||||||||
Weighted | ||||||||||
December 31, | September 30, | Average Useful | ||||||||
(in thousands) | 2012 | 2013 | Life (in years) | |||||||
Patents | $ | 1,054 | $ | 1,054 | 8 | |||||
Less: accumulated amortization | (766 | ) | (864 | ) | ||||||
Patents, net | 288 | 190 | ||||||||
Technological know-how | 15,141 | 15,070 | 6.1 | |||||||
Less: accumulated amortization | (4,913 | ) | (7,126 | ) | ||||||
Technological know-how, net | 10,228 | 7,944 | ||||||||
Customer relationships | 37,358 | 37,879 | 8.7 | |||||||
Less: accumulated amortization | (10,793 | ) | (14,052 | ) | ||||||
Customer relationships, net | 26,565 | 23,827 | ||||||||
Convenants not to compete | 881 | 1,159 | 2 | |||||||
Less: accumulated amortization | (517 | ) | (830 | ) | ||||||
Convenants not to compete, net | 364 | 329 | ||||||||
Strategic marketing agreement | 6,203 | 6,203 | 10 | |||||||
Less: accumulated amortization | (293 | ) | (486 | ) | ||||||
Strategic marketing agreement, net | 5,910 | 5,717 | ||||||||
Tradenames | 843 | 877 | 3.8 | |||||||
Less: accumulated amortization | (196 | ) | (365 | ) | ||||||
Tradenames, net | 647 | 512 | ||||||||
Trademarks | 247 | 247 | Indefinite | |||||||
Intangible assets, net | $ | 44,249 | $ | 38,766 | ||||||
The related amortization expense of intangible assets for the nine months ended September 30, 2012 and 2013 was $4.7 million and $6.1 million, respectively. The Company’s estimate of future amortization expense for acquired intangible assets that exist at September 30, 2013 is as follows: | ||||||||||
(in thousands) | ||||||||||
October 1, 2013 to December 31, 2013 | $ | 2,118 | ||||||||
2014 | 7,563 | |||||||||
2015 | 6,100 | |||||||||
2016 | 5,782 | |||||||||
2017 | 6,026 | |||||||||
Thereafter | 10,930 | |||||||||
Total | $ | 38,519 | ||||||||
The following table presents the changes in the carrying amounts of goodwill for the nine months ended September 30, 2013. | ||||||||||
Carrying | ||||||||||
(in thousands) | Amount | |||||||||
Balance at December 31, 2012 | $ | 65,825 | ||||||||
oneTEM | 655 | |||||||||
Foreign exchange translation effect | (487 | ) | ||||||||
Balance at September 30, 2013 | $ | 65,993 | ||||||||
Restructuring_Charge
Restructuring Charge | 9 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Restructuring Charge | ' | ||||||||||
Restructuring Charge | ' | ||||||||||
6. Restructuring Charge | |||||||||||
In September 2011, the Company recorded a restructuring charge as a result of the consolidation of office space in New Jersey. The consolidation of office space eliminated redundant office space acquired as part of the acquisition of substantially all of the assets and certain liabilities of HCL Expense Management Services, Inc. (“HCL-EMS”) in January 2011 and of certain assets and liabilities of Telwares, Inc. and its subsidiary Vercuity, Inc. (“Telwares”) in March 2011. The original charge reflected the fair value of the remaining rent payments for the office space the Company ceased using, net of estimated sublease income, plus real estate commissions and office relocation costs. During the three months ended March 31, 2013, the Company recorded an adjustment of $0.1 million to the original restructuring charge as a result of the Company’s inability to sublease the office space in the time period originally expected. During the nine months ended September 30, 2013, the Company negotiated a lease termination agreement with the landlord of its New Jersey office space. The agreement terminated the remaining term of the lease effective June 30, 2013 for a settlement fee of $0.9 million. The Company recorded an adjustment of $0.5 million to the restructuring charge as a result of the lease termination agreement. The liability related to the restructuring charge is included in other current liabilities on the Company’s condensed consolidated balance sheet. The following table summarizes the activity in the liabilities related to the restructuring charge for the nine months ended September 30, 2013: | |||||||||||
Lease costs, net | |||||||||||
of estimated | |||||||||||
(in thousands) | sublease income | Other Costs | Total | ||||||||
Remaining liability at December 31, 2012 | $ | 613 | $ | (8 | ) | $ | 605 | ||||
Cash payments | (736 | ) | — | (736 | ) | ||||||
Non-cash charges and other | 2 | 8 | 10 | ||||||||
Restructuring charge | 654 | — | 654 | ||||||||
Remaining liability at September 30, 2013 | 533 | 0 | 533 | ||||||||
Less: current portion | (533 | ) | |||||||||
Long-term portion | $ | 0 | |||||||||
Debt
Debt | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Debt | ' | |||||||
Debt | ' | |||||||
7. Debt | ||||||||
As of December 31, 2012 and September 30, 2013, debt outstanding included the following: | ||||||||
December 31, | September 30, | |||||||
(in thousands) | 2012 | 2013 | ||||||
HCL-EMS contingent consideration, net of unamortized discount of $12 and $0 at December 31, 2012 and September 30, 2013, respectively. Payable as described below. | $ | 2,046 | $ | 891 | ||||
Deferred Telwares purchase price, net of unamortized discount of $24 and $0 at December 31, 2012 and September 30, 2013, respectively. | 1,226 | — | ||||||
Deferred ProfitLine purchase price, net of unamortized discount of $62 and $0 at December 31, 2012 and September 30, 2013, respectively. Payable as described below. | 4,438 | 23 | ||||||
Deferred Anomalous purchase price, net of unamortized discount of $1 and $0 at December 31, 2012 and September 30, 2013, respectively. | 978 | — | ||||||
Deferred ttMobiles purchase price, net of unamortized discount of $10 and $0 at December 31, 2012 and September 30, 2013, respectively. | 2,420 | — | ||||||
Deferred Symphony purchase price, net of unamortized discount of $128 and $0 at December 31, 2012 and September 30, 2013, respectively. Payable as described below. | 10,662 | 1,279 | ||||||
Deferred oneTEM purchase price and contingent consideration, net of unamortized discount of $111 at September 30, 2013. Payable as described below. | — | 660 | ||||||
Capital lease and other obligations | 804 | 720 | ||||||
Total notes payable | $ | 22,574 | $ | 3,573 | ||||
Less current portion | $ | (22,443 | ) | $ | (3,372 | ) | ||
Notes payable, less current portion | $ | 131 | $ | 201 | ||||
Contingent HCL-EMS Consideration | ||||||||
The purchase consideration for the acquisition of HCL-EMS includes deferred cash consideration. The deferred cash consideration includes contingent cash payments following each of the first and second anniversaries of the closing date of the HCL-EMS acquisition on January 25, 2011 (the “HCL-EMS Closing Date”), pursuant to an earn-out formula based upon specified revenues from specified customers acquired from HCL-EMS, subject to set-off rights of the Company with respect to indemnities given by HCL-EMS under the Asset Purchase Agreement entered into in December 2010 in connection with the HCL-EMS acquisition (the “HCL-EMS APA”). No interest accrues on the deferred cash consideration; however, the Company recorded imputed interest in the amount of $0.6 million based on the Company’s weighted average cost of debt as of the date of the acquisition. The obligation to pay the deferred cash consideration is unsecured. In 2012, the Company and HCL-EMS agreed that the gross amount of the first year earn-out would be $1.9 million and the Company paid that amount to HCL-EMS. In April 2013, the Company and HCL-EMS agreed that the gross amount of the second year earn-out would be $1.9 million. In early August 2013, the Company paid $1.0 million of the second year earn-out to HCL-EMS, and retained the balance of the second year earn-out in the amount of $0.9 million pending resolution of an outstanding indemnity matter. The only adjustments to the balance in 2013 were the accretion of imputed interest, the adjustment of the second year earn-out estimate to actual and the partial payment of the second year earn-out. | ||||||||
Deferred Telwares Purchase Price | ||||||||
The purchase consideration for the acquisition of Telwares included deferred cash consideration. The deferred cash consideration included payments of $1.25 million on March 16, 2012 and $1.25 million on March 16, 2013, subject to set-off rights of the Company with respect to indemnities given by Telwares under an Asset Purchase Agreement entered into in March 2011 in connection with the Telwares acquisition. The Company paid the first installment of $1.25 million on March 16, 2012. The installment payable on March 16, 2013 was subject to a potential reduction of up to $0.5 million relating to the achievement of certain recurring revenue goals during the three months ended June 30, 2012. The Company and Telwares agreed that the amount of that reduction would be $0.4 million and the Company paid the resulting installment of deferred cash consideration of $0.9 million in March 2013. No interest accrued on the deferred cash consideration; however, the Company recorded imputed interest in the amount of $0.3 million based on the Company’s weighted average cost of debt as of the date of the acquisition. The obligation to pay the deferred cash consideration was unsecured. The only adjustments to the balance in 2013 were the accretion of imputed interest, the reduction in deferred consideration as described above and the payment of the second installment. | ||||||||
Deferred ProfitLine Purchase Price | ||||||||
On December 19, 2011, the Company and Snow Acquisition Sub, Inc., a Delaware corporation and a wholly owned subsidiary of the Company (the “Acquisition Sub”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with ProfitLine, Inc., a Delaware corporation (“ProfitLine”), and Doug Carlisle, solely in his capacity as Stockholder Representative under the Merger Agreement, under which the parties agreed to the merger of the Acquisition Sub with and into ProfitLine (the “Merger”) with ProfitLine surviving the Merger as a wholly owned subsidiary of the Company. The purchase consideration for the acquisition of ProfitLine included deferred cash consideration consisting of payments of $9.0 million in installments of $4.5 million each on December 19, 2012 and June 19, 2013, subject to set-off rights of the Company and the surviving corporation with respect to indemnities given by the former stockholders of ProfitLine under the Merger Agreement. The Company paid $4.1 million in December 2012, which represented the first installment of $4.5 million less indemnity claims of $0.4 million. The Company paid $4.1 million in July 2013, which represented the second and final installment of $4.5 million less indemnity claims of $0.4 million. One payee, who was entitled to receive $23,000, did not respond to the Company’s communications until October 2013, and therefore the $23,000 was withheld by the Company until October 2013. No interest accrued on the deferred cash consideration; however, the Company recorded imputed interest in the amount of $0.3 million based on the Company’s weighted-average cost of debt as of the date of the acquisition. The obligation to pay the deferred cash consideration was unsecured. The only adjustments to the balance in 2013 were the accretion of imputed interest and the payment of the second and final installment. | ||||||||
Deferred Anomalous Purchase Price | ||||||||
As described in Note 2, the purchase consideration for the acquisition of Anomalous included deferred cash consideration. The deferred cash consideration included a payment of $979,000 in cash on the first anniversary of the Anomalous Acquisition Date, subject to set-off rights of the Company with respect to indemnities given by the former shareholders of Anomalous under the Anomalous Purchase Agreement. The Company paid the full $979,000 of deferred cash consideration in January 2013. No interest accrued on the deferred cash consideration; however, the Company recorded imputed interest in the amount of $29,000 based on the Company’s weighted average cost of debt as of the date of the acquisition. The obligation to pay the deferred cash consideration was unsecured. The only adjustments to the balance in 2013 were the accretion of imputed interest and the payment of the deferred cash consideration. | ||||||||
Deferred ttMobiles Purchase Price | ||||||||
As described in Note 2, the purchase consideration for the acquisition of ttMobiles included deferred cash consideration. The deferred cash consideration included a payment of £1.5 million in cash payable on the first anniversary of the ttMobiles Acquisition Date. The Company paid this £1.5 million of deferred consideration in February 2013. No interest accrued on the deferred cash consideration; however, the Company recorded imputed interest in the amount of $0.1 million based on the Company’s weighted average cost of debt as of the date of the acquisition. The obligation to pay the deferred cash consideration was unsecured. The only adjustments to the balance in 2013 were the accretion of imputed interest, foreign exchange adjustment and payment of the deferred cash consideration. | ||||||||
Deferred Symphony Purchase Price | ||||||||
As described in Note 2, the purchase consideration for the acquisition of the Symphony TEM Business included deferred cash consideration. The deferred cash consideration included payments of $4.4 million in cash payable on the six-month anniversary of the closing of the Symphony acquisition, which included $2.5 million of consideration related to the Indian Purchase Agreement, and $6.4 million in cash payable on the twelve-month anniversary of closing of the Symphony Acquisition. In addition, the acquisition consideration included an earn-out payable in the amount of up to $4.0 million based on achievement of revenue targets for the acquired business for periods through June 30, 2013. No earn-out is payable because the revenue targets were not achieved. The Company made the six-month anniversary payment of $4.4 million in February 2013. The Company made a payment on the one-year anniversary of the closing in the amount of $4.9 million, consisting of the one-year anniversary payment of $6.4 million less $1.3 million withheld pending the resolution of certain indemnity matters, and less a net asset adjustment based on the final closing balance sheet of $0.2 million. In October 2013, the Company and Symphony resolved the indemnity matters and the Company paid the $1.3 million that it had previously deducted from the one-year anniversary payment. No interest accrued on the deferred cash consideration; however, the Company recorded imputed interest in the amount of $0.2 million based on the Company’s weighted average cost of debt as of the date of the acquisition. The obligation to pay the deferred cash consideration was unsecured. The full installment due on August 8, 2013 of approximately $6.4 million and amounts that potentially could become payable under the earn-out were subject to set-off rights of the Company with respect to indemnities given by Symphony under the Symphony Purchase Agreement. Among other things, these indemnity obligations related to representations and warranties given by Symphony under the Symphony Purchase Agreement and by Symphony India under the Indian Purchase Agreement. Certain of the indemnities were subject to limitations, including a threshold and deductible, certain caps and limited survival periods. The only adjustments to the balance in 2013 were the accretion of imputed interest and the payment of the six- and twelve-month installments. | ||||||||
Deferred oneTEM Purchase Price | ||||||||
As described in Note 2, the purchase consideration for the acquisition of oneTEM includes deferred cash consideration. The deferred cash consideration includes a payment of €0.4 million in cash payable on the first year anniversary of the closing of the oneTEM acquisition. In addition, the acquisition consideration includes an earn-out payable pursuant to an earn-out formula based upon the business beginning to generate annual recurring revenue from specified customers and then year-over-year increases in annual recurring revenue from those specified customers during the earn out periods. The earn-out period begins with the first full month after the oneTEM Closing Date and continues for four consecutive 12-month periods. The Company valued this contingent consideration at €0.2 million. No interest accrues on the deferred cash consideration; however, the Company recorded imputed interest in the amount of €0.1 million based on weighted average cost of capital as of the date of the acquisition. The deferred consideration is subject to set-off rights of the Company with respect to certain indemnities given by the former holders of the issued share capital of oneTEM under the oneTEM Purchase Agreement until the deferred consideration is paid. |
Stockholders_Equity
Stockholders' Equity | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Stockholders' Equity | ' | |||||||||||||
Stockholders' Equity | ' | |||||||||||||
8. Stockholders’ Equity | ||||||||||||||
Common Stock—As of December 31, 2012 and September 30, 2013, the number of authorized shares of common stock, par value $0.0001 per share, was 150,000,000, of which 37,613,327 and 38,125,858 were issued and outstanding, respectively. | ||||||||||||||
During the nine months ended September 30, 2012, the Company issued 165,775 unregistered shares of its common stock and 132,617 unvested and unregistered shares of its common stock as part of the Anomalous purchase consideration, as described in Note 2. During the nine months ended September 30, 2013, the Company cancelled and retired the 132,617 unvested and unregistered shares of its common stock. Additionally, the Company issued 5,991 and 58,975 shares of its common stock to certain of its employees and members of its board of directors, respectively, during the nine months ended September 30, 2013 under the provisions of the Company’s 2011 Stock Incentive Plan (the “2011 Plan”). | ||||||||||||||
At the June 5, 2013 annual meeting of the Company’s stockholders, an amendment to the 2011 Plan to reserve an additional 1,000,000 shares of common stock for issuance under the 2011 Plan was approved by a majority of the Company’s stockholders. The Company’s board of directors had previously approved such amendment. | ||||||||||||||
In November 2012, the Company’s board of directors authorized a share repurchase program under which the Company may repurchase up to $20 million of its outstanding common stock on the open market or in privately negotiated transactions. During the nine months ended September 30, 2013, the Company repurchased 365,959 shares of common stock at an average price per share, including broker commissions, of $12.40, for an aggregate purchase price of $4.5 million. | ||||||||||||||
Preferred Stock—As of December 31, 2012 and September 30, 2013, the number of authorized shares of preferred stock, par value $0.0001 per share, was 5,000,000, of which 0 were issued and outstanding. | ||||||||||||||
Common Stock Warrants—During the nine months ended September 30, 2013, warrant holders exercised warrants to purchase a total of 14,907 shares of common stock. The Company received proceeds of $34,700 related to these warrant exercises. | ||||||||||||||
On March 22, 2011, the Company issued a warrant to purchase up to 1,282,789 shares of its common stock to Dell Products, L.P. (“Dell”) in connection with the entry of the Company and Dell into a 49-month strategic relationship agreement. Under the terms of the warrant, the 1,282,789 shares of common stock may become exercisable upon the achievement of certain annual recurring revenue thresholds over the 49-month period. The warrant is exercisable at $5.987 per share. As of September 30, 2013, none of the shares that may become exercisable under this warrant were probable of being earned and becoming vested and accordingly no value was ascribed to this warrant. On a quarterly basis the Company reviews the actual annual recurring revenue related to the Dell strategic relationship agreement to determine if it is probable that Dell will reach any of the annual recurring revenue thresholds that would result in warrant shares being earned and becoming vested, and to the extent the Company deems it probable that any warrant shares will be earned and become vested, the Company will record the fair value of those shares to intangible assets and non-current liabilities using a Black-Scholes valuation model and mark to market each period thereafter until such time as the warrant shares are actually earned and vest. | ||||||||||||||
On October 9, 2009, the Company issued a warrant to purchase up to 3,198,402 shares of its common stock to International Business Machines Corporation (“IBM”) in connection with the entry of the Company and IBM into a five-year strategic relationship agreement. Under the terms of the warrant, 890,277 shares of common stock were vested and exercisable immediately upon execution of the agreement. Up to an additional 2,308,125 shares of common stock were to become exercisable upon the achievement of certain billing thresholds over a three-year period. The warrant was exercisable at $4.148 per share. (Certain terms of this warrant were amended on June 8, 2011, as described in the paragraph below). The Company valued the initial 890,277 shares of common stock exercisable under the warrant at $1.7 million using the Black-Scholes valuation model at the time of the signing of the agreement. The Black-Scholes valuation assumptions included an expected term of seven years, volatility of 67.77% and a risk free interest rate of 2.93%. The Company recorded the $1.7 million value of the initial 890,277 shares of common stock as an increase to warrants for common stock and an increase to other non-current assets on the Company’s consolidated balance sheet. During the three months ended December 31, 2009, the Company determined that it was probable that IBM would reach certain of the billing thresholds to have an additional 947,103 shares of common stock become exercisable. The additional shares of common stock exercisable under the warrant were valued at $1.4 million using the Black-Scholes valuation model at the time the Company determined it was probable they would reach the billing thresholds. The Black-Scholes valuation assumptions included an expected term of 5.8 years, volatility of 61.15% and a risk free interest rate of 2.28%. The Company recorded the value of the additional shares of common stock to intangible assets and non-current liabilities. In December 2010, the Company reviewed the actual billings to date related to the strategic relationship agreement and determined it was probable IBM would reach the billing thresholds to earn 624,755 shares of the additional 947,103 shares of common stock accrued. The Company reversed $920,000 of market value related to the 322,348 shares of common stock no longer deemed probable of being earned. | ||||||||||||||
On June 8, 2011, certain terms of the common stock warrant described above were amended by the Company and IBM. Under the terms of the amended warrant agreement, an additional 624,755 shares of common stock were vested and exercisable immediately (in addition to the 890,277 shares previously vested and exercisable), the additional warrant shares that could be earned were reduced from 2,308,125 to 651,626 shares of common stock, and the methodology for earning the additional warrant shares was revised to be based on specified new contractual revenue commitments from IBM that could occur between June 8, 2011 and June 30, 2012. Based on this amendment, the maximum number of warrant shares (issued and issuable) to IBM was reduced from 3,198,402 to 2,166,658 shares of common stock. The fair value of the 624,755 warrant shares vested as a result of this amendment was determined to be $4.5 million using the Black-Scholes valuation model at the time of the amendment. The Black-Scholes valuation assumptions included an expected term of 5.3 years, volatility of 59.58% and a risk free interest rate of 1.64%. The Company recorded these vested warrant shares as an increase to warrants for common stock, reversed the non-current liability associated with the previous accrual for these warrant shares, and the difference was added to intangible assets and is being amortized in proportion to the expected revenue over the remainder of the original ten-year period noted below. On August 30, 2011, the Company issued 930,511 shares of its common stock to IBM upon the exercise by IBM of this warrant, pursuant to a cashless exercise feature. As a result of the cashless exercise, 584,521 warrant shares were cancelled in lieu of the payment of cash consideration to the Company. As of June 30, 2012, the vesting terms of the amended warrant agreement between the Company and IBM expired with IBM earning no additional warrant shares. As a result, no further warrant shares are issuable under this warrant agreement. | ||||||||||||||
The Company began to amortize the intangible asset in the first quarter of 2010, with the related charge recorded as contra-revenue. The related charge to revenue will be in proportion to expected revenue over approximately a ten-year period. For the nine months ended September 30, 2012 and 2013, the Company recorded $119,259 and $194,189, respectively, of amortization as a contra-revenue charge related to the common stock warrant. The warrant value was marked to market on a quarterly basis until the warrant shares were earned and vested or expired unearned and unvested. | ||||||||||||||
A summary of warrants exercised to purchase common stock during the nine months ended September 30, 2013 is presented below: | ||||||||||||||
Number of | ||||||||||||||
Stock | ||||||||||||||
Warrants | Warrants | |||||||||||||
Outstanding at beginning of the year | 25,617 | |||||||||||||
Exercised | (14,907 | ) | ||||||||||||
Issued | — | |||||||||||||
Cancelled | — | |||||||||||||
Outstanding at end of the period | 10,710 | |||||||||||||
Weighted average exercise price | $ | 13.26 | ||||||||||||
Stock Options—As of September 30, 2013, the Company had five stock-based compensation plans, the Employee Stock Option/Stock Issuance Plan (the “Employee Plan”), the Executive Stock Option/Stock Issuance Plan (the “Executive Plan”), the 2005 Stock Incentive Plan (the “2005 Plan”), the Traq Amended and Restated 1999 Stock Plan (the “1999 Plan”) and the 2011 Plan. In connection with the Company’s initial public offering, the Company’s board of directors determined that no future stock awards would be made under the Employee Plan, the Executive Plan, the 2005 Plan and the 1999 Plan. The 2011 Plan provides for the grant of incentive stock options, nonstatutory stock options, restricted stock awards and other stock-based awards. | ||||||||||||||
Under the provisions of the Employee Plan, the Executive Plan, the 2005 Plan, the 1999 Plan and the 2011 Plan (the “Plans”), the exercise price of each option is determined by the Company’s board of directors or by a committee appointed by the board of directors. Under the 2011 Plan, the exercise price of all stock options must not be less than the fair market value of a share of common stock on the date of grant. The period over which options vest and become exercisable, as well as the term of the options, is determined by the board of directors or the committee appointed by the board of directors. The options generally vest over 4 years and expire 10 years after the date of the grant. During the nine months ended September 30, 2013, the Company’s board of directors granted options to purchase an aggregate of 463,475 shares of common stock under the 2011 Plan to employees and non-employees, at a weighted average exercise price of $14.25 per share. | ||||||||||||||
A summary of the status of stock options issued pursuant to the Plans during the nine months ended September 30, 2013 is presented below: | ||||||||||||||
Options | Number of Shares | Weighted | Weighted | |||||||||||
Average | Average | |||||||||||||
Exercise | Contractual | |||||||||||||
Price | Life (years) | |||||||||||||
Outstanding at beginning of the year | 6,854,369 | $ | 7.92 | |||||||||||
Granted | 463,475 | $ | 14.25 | |||||||||||
Forfeited | (119,067 | ) | $ | 13.01 | ||||||||||
Exercised | (847,134 | ) | $ | 4.62 | ||||||||||
Outstanding at end of the period | 6,351,643 | $ | 8.73 | 7.1 | ||||||||||
Exercisable at end of the period | 3,933,447 | $ | 6.54 | 6.4 | ||||||||||
Available for future grants at September 30, 2013 | 1,018,338 | |||||||||||||
The intrinsic values of options outstanding, vested and exercised during the nine months ended September 30, 2013 were as follows: | ||||||||||||||
2013 | ||||||||||||||
Number of | Intrinsic | |||||||||||||
Options | Value | |||||||||||||
Outstanding | 6,351,643 | $ | 95,907,266 | |||||||||||
Vested | 3,933,447 | $ | 68,020,878 | |||||||||||
Exercised | 847,134 | $ | 12,276,044 | |||||||||||
During the nine months ended September 30, 2013, employees and former employees of the Company exercised options to purchase a total of 847,134 shares of common stock at exercise prices ranging from $0.25 to $20.39 per share. Proceeds from the stock option exercises totaled $3.9 million. | ||||||||||||||
Restricted Stock Units—During the nine months ended September 30, 2013, the Company issued 627,534 restricted stock units to certain employees under the provisions of the 2011 Plan and 84,100 restricted stock units vested resulting in an equal number of shares of common stock being issued. The grants of restricted stock units made during the nine months ended September 30, 2013 had an aggregate value of $9.3 million. The value of a restricted stock unit award is determined based on the closing price of the Company’s common stock on the date of grant. A restricted stock unit award entitles the holder to receive shares of the Company’s common stock as the award vests. The restricted stock units vest over periods that range from 2 to 4 years. Stock-based compensation expense is amortized on a straight-line basis over the vesting period. | ||||||||||||||
For the nine months ended September 30, 2013, the Company recorded stock-based compensation expenses of $3.0 million related to restricted stock units. | ||||||||||||||
As of September 30, 2013, there was $9.3 million of total unrecognized compensation cost, net of estimated forfeitures, related to unvested restricted stock units. This amount will be amortized on a straight-line basis over the requisite service period related to the restricted unit grants. | ||||||||||||||
A summary of the status of restricted stock units issued pursuant to the Plans during the nine months ended September 30, 2013 is presented below: | ||||||||||||||
Restricted Stock Units | Number of Shares | Weighted | ||||||||||||
Average Fair | ||||||||||||||
Value | ||||||||||||||
Outstanding at beginning of the year | 221,314 | $ | 17.27 | |||||||||||
Granted | 627,534 | $ | 14.85 | |||||||||||
Vested | (84,100 | ) | $ | 17.14 | ||||||||||
Forfeited | (1,050 | ) | $ | 15.08 | ||||||||||
Outstanding at end of the period | 763,698 | $ | 15.3 | |||||||||||
In accordance with ASC 718, Share Based Payment (“ASC 718”), total compensation expense for stock-based compensation awards was $6.5 million and $9.8 million for the nine months ended September 30, 2012 and 2013, respectively, which is included on the accompanying condensed consolidated statements of operations as follows (in thousands): | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
September 30, | September 30, | |||||||||||||
2012 | 2013 | 2012 | 2013 | |||||||||||
Cost of goods sold | $ | 362 | $ | 529 | $ | 947 | $ | 1,609 | ||||||
Sales and marketing expenses | 586 | 978 | 1,455 | 2,747 | ||||||||||
General and administrative expenses | 1,643 | 1,551 | 3,727 | 4,664 | ||||||||||
Research and development | 164 | 244 | 410 | 753 | ||||||||||
Total stock-based employee compensation | $ | 2,755 | $ | 3,302 | $ | 6,539 | $ | 9,773 | ||||||
Stock-based employee compensation expense for equity awards granted since January 1, 2006 will be recognized over the following periods as follows (in thousands): | ||||||||||||||
Years Ending December 31, | ||||||||||||||
2013 | $ | 3,272 | ||||||||||||
2014 | 11,718 | |||||||||||||
2015 | 8,106 | |||||||||||||
2016 | 2,333 | |||||||||||||
2017 | 123 | |||||||||||||
$ | 25,552 | |||||||||||||
Stock-based compensation costs for stock options are generally based on the fair value calculated from the Black-Scholes valuation model on the date of grant. The Black-Scholes valuation model requires the Company to estimate key assumptions such as expected volatility, expected terms, risk-free interest rates and dividend yields. The Company determined the assumptions in the Black-Scholes valuation model as follows: expected volatility is a combination of the Company’s competitors’ historical volatility; expected term is calculated using the “simplified” method prescribed in ASC 718; and the risk free rate is based on the U.S. Treasury yield on 5 and 7-year instruments in effect at the time of grant. A dividend yield is not used, as the Company has never paid cash dividends and does not currently intend to pay cash dividends. The Company periodically reviews the assumptions and modifies the assumptions accordingly. | ||||||||||||||
As part of the requirements of ASC 718, the Company is required to estimate potential forfeitures of stock grants and adjust compensation cost recorded accordingly. The estimate of forfeitures will be adjusted over the requisite service period to the extent that actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures will be recognized through a cumulative catch-up adjustment in the period of change and will also impact the amount of stock-based compensation expense to be recognized in future periods. The fair values of stock grants are amortized as compensation expense on a straight-line basis over the vesting period of the grants. Compensation expense recognized is shown in the operating activities section of the statement of cash flows. | ||||||||||||||
The fair value of the options granted during 2013 was determined at the date of grant using the Black-Scholes valuation model with the following assumptions: | ||||||||||||||
2013 | ||||||||||||||
Expected dividend yield | 0% | |||||||||||||
Risk-free interest rate | 1.04% to 1.86% | |||||||||||||
Expected term (in years) | 5.7 - 6.1 years | |||||||||||||
Expected volatility | 56.34% - 56.84% | |||||||||||||
Based on the above assumptions, the weighted average fair value per share of stock options granted during the nine months ended September 30, 2013 was approximately $7.55. | ||||||||||||||
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Income Taxes | ' |
Income Taxes | ' |
9. Income Taxes | |
The income tax provision differs from the expected tax provisions computed by applying the U.S. Federal statutory rate to income before income taxes primarily because the Company has historically maintained a full valuation allowance on its deferred tax assets, tax deductions related to stock-based compensation, and to a lesser extent because of the impact of state income taxes. As described in the 2012 Form 10-K, the Company maintains a full valuation allowance in accordance with ASC 740, Accounting for Income Taxes, on its net deferred tax assets. Until the Company achieves and sustains an appropriate level of profitability, it plans to maintain a valuation allowance on its net deferred tax assets. | |
Fair_Value_Measurement
Fair Value Measurement | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Fair Value Measurement | ' | |||||||||||||
Fair Value Measurement | ' | |||||||||||||
10. Fair Value Measurement | ||||||||||||||
The Company records certain financial assets and liabilities at fair value on a recurring basis. The Company determines fair values based on that price it would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date and in the principal or most advantageous market for that asset or liability. | ||||||||||||||
The prescribed fair value hierarchy and related valuation methodologies are as follows: | ||||||||||||||
Level 1—Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. | ||||||||||||||
Level 2—Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, directly or indirectly, such as a quoted price for similar assets or liabilities in active markets. | ||||||||||||||
Level 3—Inputs are unobservable and are only used to measure fair value when observable inputs are not available. The inputs reflect the entity’s own assumptions and are based on the best information available. This allows for the fair value of an asset or liability to be measured when no active market for that asset or liability exists. | ||||||||||||||
The following table discloses the assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 and December 31, 2012 and the basis for that measurement: | ||||||||||||||
Fair Value Measurement at September 30, 2013 | ||||||||||||||
(in thousands) | Total | Level 1 | Level 2 | Level 3 | ||||||||||
Money market | $ | 18,336 | $ | 18,336 | $ | — | $ | — | ||||||
Contingent HCL-EMS acquisition consideration | 891 | — | — | 891 | ||||||||||
Contingent oneTEM acquisition consideration | 198 | –– | –– | 198 | ||||||||||
$ | 19,425 | $ | 18,336 | $ | — | $ | 1,089 | |||||||
Fair Value Measurement at December 31, 2012 | ||||||||||||||
(in thousands) | Total | Level 1 | Level 2 | Level 3 | ||||||||||
Money market | $ | 28,094 | $ | 28,094 | $ | — | $ | — | ||||||
Contingent HCL-EMS acquisition consideration | 2,046 | — | — | 2,046 | ||||||||||
$ | 30,140 | $ | 28,094 | $ | — | $ | 2,046 | |||||||
The changes in the fair value of the Level 3 liability for the nine months ended September 30, 2013 are as follows: | ||||||||||||||
Contingent acquisition consideration | ||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||
(in thousands) | HCL-EMS | oneTEM | ||||||||||||
Balance, beginning of period | $ | 2,046 | $ | — | ||||||||||
Initial earn-out consideration | — | 181 | ||||||||||||
Imputed Interest | 12 | 17 | ||||||||||||
Cash payments | (1,000 | ) | –– | |||||||||||
Second year earn-out adjustment | (167 | ) | — | |||||||||||
Balance, end of period | $ | 891 | $ | 198 | ||||||||||
The Company’s investment in overnight money market institutional funds, which amounted to $28.1 million and $18.3 million at December 31, 2012 and September 30, 2013, respectively, is included in cash and cash equivalents on the accompanying condensed consolidated balance sheets and is classified as a Level 1 input. | ||||||||||||||
The acquisition of HCL-EMS includes a contingent consideration agreement that requires additional consideration to be paid by the Company following each of the first and second anniversaries of the HCL-EMS Closing Date, pursuant to an earn-out formula ranging from 7.5% to 15% of specified revenues from specified customers acquired, subject to set-off rights of the Company with respect to indemnities given by HCL-EMS under the HCL-EMS APA. The fair value of the contingent consideration recognized was $3.4 million which was estimated by applying the income approach. The key assumptions include (a) a discount rate of 10.5% and (b) probability adjusted levels of revenue between approximately $12.6 million and $13.9 million. As of September 30, 2013, there were no changes in the recognized amounts, except for the accretion of interest, adjustment of the second year earn-out estimate to actual and the partial payment of the second year earn-out. | ||||||||||||||
The acquisition of oneTEM includes a contingent consideration agreement that requires additional consideration to be paid by the Company following each of the first four anniversaries of the oneTEM Closing Date, pursuant to an earn-out formula of 9% of annual recurring revenue generated from specified customers in the first year and then year-over-year increase in annual recurring revenue from those specified customers during the earn-out periods. The earn-out period begins with the first full month after the oneTEM Closing Date and continues for four consecutive 12- month periods. The contingent consideration is subject to set-off rights of the Company with respect to indemnities given by the former holders of the issued share capital of oneTEM under the oneTEM Purchase Agreement. The fair value of the contingent consideration recognized was $0.2 million, which was estimated by applying the income approach. The key assumptions include (a) a discount rate of 15% and (b) probability adjusted levels of initial and then increased annual recurring revenue between approximately $0.2 million and $0.3 million. | ||||||||||||||
The carrying amounts of the Company’s other non-cash financial instruments including accounts receivable and accounts payable approximate their fair values due to the relatively short-term nature of these instruments. The carrying amounts of the Company’s deferred purchase price consideration to ProfitLine and Symphony approximate fair value as the effective interest rates approximate market rates. |
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Supplemental Cash Flow Information | ' | |||||||
Supplemental Cash Flow Information | ' | |||||||
11. Supplemental Cash Flow Information | ||||||||
Information about other cash flow activities during the nine months ended September 30, 2012 and 2013 is as follows: | ||||||||
Nine months ended September 30, | ||||||||
(in thousands) | 2012 | 2013 | ||||||
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||||||||
Cash paid for: | ||||||||
Interest | $ | 94 | $ | 65 | ||||
Income tax payments | $ | 284 | $ | 345 | ||||
NON-CASH TRANSACTIONS: | ||||||||
Deferred purchase price in connection with Anomalous acquisition | $ | 950 | $ | — | ||||
Deferred purchase price in connection with ttMobiles acquisition | $ | 2,315 | $ | — | ||||
Deferred purchase price in connection with Symphony acquisition | $ | 10,942 | $ | –– | ||||
Deferred purchase price in connection with oneTEM acquisition | $ | — | $ | 616 | ||||
Issuance of common stock in payment of board of directors fees | $ | 20 | $ | — | ||||
Cashless exercise of warrants | $ | 479 | $ | — |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies | ' |
Commitments and Contingencies | ' |
12. Commitments and Contingencies | |
During the normal course of business, the Company becomes involved in various routine legal proceedings including issues pertaining to patent infringement, customer disputes, employee matters and acquisition-related post-closing disputes. The Company does not believe that the outcome of these matters will have a material adverse effect on its financial condition. | |
The Company has entered into non-cancellable operating leases for the rental of office space in various locations that expire between 2013 and 2019. Some of the leases provide for lower payments in the beginning of the term which gradually escalate during the term of the lease. The Company recognizes rent expense on a straight-line basis over the lease term, which gives rise to a deferred rent liability on the balance sheet. The Company also has entered into agreements with third-party hosting facilities, which expire between 2013 and 2016. | |
The Company is also obligated under several leases covering computer equipment and software, which the Company has classified as capital leases. Additionally, the Company has entered into several operating leases for various office equipment items, which expire between January 2014 and July 2015. | |
Rent expense, included in general and administrative expense, was approximately $3.6 million and $4.2 million for the nine months ended September 30, 2012 and 2013, respectively. |
Business_Combinations_Tables
Business Combinations (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Business combinations | ' | |||||||||||||
Schedule of unaudited pro forma results, as if the acquisitions occurred at beginning of the period | ' | |||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
September 30, | September 30, | |||||||||||||
(in thousands, except per share amounts) | 2012 | 2013 | 2012 | 2013 | ||||||||||
Revenue | $ | 40,458 | $ | 47,620 | $ | 113,337 | $ | 139,138 | ||||||
Operating income | 967 | 1,324 | 2,128 | 3,004 | ||||||||||
Net income | 584 | 1,555 | 1,094 | 3,127 | ||||||||||
Basic income per common share | $ | 0.02 | $ | 0.04 | $ | 0.03 | $ | 0.08 | ||||||
Diluted income per common share | $ | 0.01 | $ | 0.04 | $ | 0.03 | $ | 0.08 | ||||||
Anomalous | ' | |||||||||||||
Business combinations | ' | |||||||||||||
Schedule of breakdown between purchase price and the allocation of the total purchase price | ' | |||||||||||||
The following table presents the breakdown between cash and deferred purchase price and the allocation of the total purchase price (in thousands): | ||||||||||||||
Purchase consideration: | ||||||||||||||
Cash | $ | 3,521 | ||||||||||||
Common stock | 1,984 | |||||||||||||
Deferred cash consideration | 1,495 | |||||||||||||
$ | 7,000 | |||||||||||||
Allocation of Purchase Consideration: | ||||||||||||||
Current assets | $ | 1,140 | ||||||||||||
Property and equipment | 47 | |||||||||||||
Other assets | 10 | |||||||||||||
Identifiable intangible assets | 2,857 | |||||||||||||
Goodwill | 4,477 | |||||||||||||
Total assets acquired | 8,531 | |||||||||||||
Accounts payable and accrued expenses | (394 | ) | ||||||||||||
Deferred taxes | (767 | ) | ||||||||||||
Deferred revenue | (370 | ) | ||||||||||||
$ | 7,000 | |||||||||||||
Schedule of estimates of fair value of identifiable intangible assets acquired | ' | |||||||||||||
The following table presents the Company’s estimates of fair value of the identifiable intangible assets acquired (in thousands): | ||||||||||||||
Description | Fair Value | Weighted Average | ||||||||||||
Useful Life | ||||||||||||||
(in years) | ||||||||||||||
Technology | $ | 2,017 | 5 | |||||||||||
Non-compete covenants | 553 | 2 | ||||||||||||
Customer relationships | 236 | 4 | ||||||||||||
Tradenames | 51 | 3 | ||||||||||||
Total identifiable intangible assets | $ | 2,857 | ||||||||||||
ttMobiles | ' | |||||||||||||
Business combinations | ' | |||||||||||||
Schedule of breakdown between purchase price and the allocation of the total purchase price | ' | |||||||||||||
The following table presents the breakdown between cash and deferred purchase price and the allocation of the total purchase price (in thousands): | ||||||||||||||
Purchase consideration: | ||||||||||||||
Cash | $ | 6,359 | ||||||||||||
Deferred cash consideration | 2,315 | |||||||||||||
$ | 8,674 | |||||||||||||
Allocation of Purchase Consideration: | ||||||||||||||
Current assets | $ | 2,469 | ||||||||||||
Property and equipment | 188 | |||||||||||||
Identifiable intangible assets | 4,288 | |||||||||||||
Goodwill | 3,557 | |||||||||||||
Total assets acquired | 10,502 | |||||||||||||
Accounts payable and accrued expenses | (848 | ) | ||||||||||||
Deferred taxes | (954 | ) | ||||||||||||
Deferred revenue | (26 | ) | ||||||||||||
$ | 8,674 | |||||||||||||
Schedule of estimates of fair value of identifiable intangible assets acquired | ' | |||||||||||||
The following table presents the Company’s estimates of fair value of the identifiable intangible assets acquired (in thousands): | ||||||||||||||
Description | Fair Value | Weighted Average | ||||||||||||
Useful Life | ||||||||||||||
(in years) | ||||||||||||||
Customer relationships | $ | 2,606 | 9 | |||||||||||
Technology | 1,178 | 5 | ||||||||||||
Tradenames | 388 | 4 | ||||||||||||
Non-compete covenants | 116 | 2 | ||||||||||||
Total identifiable intangible assets | $ | 4,288 | ||||||||||||
Symphony | ' | |||||||||||||
Business combinations | ' | |||||||||||||
Schedule of breakdown between purchase price and the allocation of the total purchase price | ' | |||||||||||||
The following table presents the breakdown between cash and deferred purchase price and the allocation of the total purchase price (in thousands): | ||||||||||||||
Purchase consideration: | ||||||||||||||
Cash | $ | 29,208 | ||||||||||||
Deferred cash consideration | 10,793 | |||||||||||||
$ | 40,001 | |||||||||||||
Allocation of Purchase Consideration: | ||||||||||||||
Current assets | $ | 5,628 | ||||||||||||
Property and equipment | 602 | |||||||||||||
Identifiable intangible assets | 13,790 | |||||||||||||
Goodwill | 20,936 | |||||||||||||
Total assets acquired | 40,956 | |||||||||||||
Accounts payable and accrued expenses | (335 | ) | ||||||||||||
Deferred revenue | (620 | ) | ||||||||||||
$ | 40,001 | |||||||||||||
Schedule of estimates of fair value of identifiable intangible assets acquired | ' | |||||||||||||
The following table presents the Company’s estimates of fair value of the identifiable intangible assets acquired (in thousands): | ||||||||||||||
Description | Fair Value | Weighted Average | ||||||||||||
Useful Life | ||||||||||||||
(in years) | ||||||||||||||
Customer relationships | $ | 9,680 | 9 | |||||||||||
Technology | 4,050 | 5 | ||||||||||||
Tradename | 60 | 3 | ||||||||||||
Total identifiable intangible assets | $ | 13,790 | ||||||||||||
oneTEM | ' | |||||||||||||
Business combinations | ' | |||||||||||||
Schedule of breakdown between purchase price and the allocation of the total purchase price | ' | |||||||||||||
The following table presents the breakdown between cash and deferred purchase price and the allocation of the total purchase price (in thousands): | ||||||||||||||
Purchase consideration: | ||||||||||||||
Cash | $ | 1,221 | ||||||||||||
Deferred cash consideration | 433 | |||||||||||||
Fair value of contingent consideration | 183 | |||||||||||||
$ | 1,837 | |||||||||||||
Allocation of Purchase Consideration: | ||||||||||||||
Current assets | $ | 565 | ||||||||||||
Property and equipment | 10 | |||||||||||||
Identifiable intangible assets | 870 | |||||||||||||
Goodwill | 655 | |||||||||||||
Total assets acquired | 2,100 | |||||||||||||
Accounts payable and accrued expenses | (152 | ) | ||||||||||||
Taxes payable | (111 | ) | ||||||||||||
$ | 1,837 | |||||||||||||
Schedule of estimates of fair value of identifiable intangible assets acquired | ' | |||||||||||||
The following table presents the Company’s estimates of fair value of the identifiable intangible assets acquired (in thousands): | ||||||||||||||
Description | Fair Value | Weighted Average | ||||||||||||
Useful Life | ||||||||||||||
(in years) | ||||||||||||||
Customer relationships | $ | 535 | 8 | |||||||||||
Covenants not to compete | 298 | 2 | ||||||||||||
Tradename | 37 | 2.7 | ||||||||||||
Total identifiable intangible assets | $ | 870 | ||||||||||||
Income_per_Share_Applicable_to1
Income per Share Applicable to Common Stockholders (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Income per Share Applicable to Common Stockholders | ' | |||||||||||||
Schedule of computations of income per share applicable to common stockholders | ' | |||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
September 30, | September 30, | |||||||||||||
(in thousands, except per share amounts) | 2012 | 2013 | 2012 | 2013 | ||||||||||
Basic net income per common share | ||||||||||||||
Net income | $ | 581 | $ | 1,555 | $ | 1,111 | $ | 3,229 | ||||||
Basic income per common share | $ | 0.02 | $ | 0.04 | $ | 0.03 | $ | 0.09 | ||||||
Weighted-average common shares outstanding | 37,410 | 37,698 | 36,079 | 37,546 | ||||||||||
Diluted net income per common share | ||||||||||||||
Net income | $ | 581 | $ | 1,555 | $ | 1,111 | $ | 3,229 | ||||||
Diluted income per common share | $ | 0.01 | $ | 0.04 | $ | 0.03 | $ | 0.08 | ||||||
Weighted-average common shares used to compute diluted net income per share | 40,963 | 40,872 | 39,616 | 40,240 | ||||||||||
Schedule of potential common shares excluded from computation of diluted (loss) income per common share as the effect would be anti-dilutive | ' | |||||||||||||
Outstanding stock options | 2,169 | 2,315 | 2,169 | 2,565 | ||||||||||
Outstanding restricted stock units | 176 | 476 | 173 | 587 | ||||||||||
Common stock warrants | 10 | 7 | 10 | 9 |
Computers_Furniture_and_Equipm1
Computers, Furniture and Equipment-Net (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Computers, Furniture and Equipment-Net | ' | |||||||
Schedule of computers, furniture and equipment-net | ' | |||||||
As of | ||||||||
December 31, | September 30, | |||||||
(in thousands) | 2012 | 2013 | ||||||
Computers and software | $ | 10,018 | $ | 11,499 | ||||
Furniture and fixtures | 1,032 | 1,174 | ||||||
Leasehold improvements | 1,166 | 1,360 | ||||||
12,216 | 14,033 | |||||||
Less accumulated depreciation | (8,217 | ) | (9,785 | ) | ||||
Computers, furniture and equipment-net | $ | 3,999 | $ | 4,248 |
Intangible_Assets_and_Goodwill1
Intangible Assets and Goodwill (Tables) | 9 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Intangible Assets and Goodwill | ' | |||||||||
Schedule of components of intangible assets | ' | |||||||||
Weighted | ||||||||||
December 31, | September 30, | Average Useful | ||||||||
(in thousands) | 2012 | 2013 | Life (in years) | |||||||
Patents | $ | 1,054 | $ | 1,054 | 8 | |||||
Less: accumulated amortization | (766 | ) | (864 | ) | ||||||
Patents, net | 288 | 190 | ||||||||
Technological know-how | 15,141 | 15,070 | 6.1 | |||||||
Less: accumulated amortization | (4,913 | ) | (7,126 | ) | ||||||
Technological know-how, net | 10,228 | 7,944 | ||||||||
Customer relationships | 37,358 | 37,879 | 8.7 | |||||||
Less: accumulated amortization | (10,793 | ) | (14,052 | ) | ||||||
Customer relationships, net | 26,565 | 23,827 | ||||||||
Convenants not to compete | 881 | 1,159 | 2 | |||||||
Less: accumulated amortization | (517 | ) | (830 | ) | ||||||
Convenants not to compete, net | 364 | 329 | ||||||||
Strategic marketing agreement | 6,203 | 6,203 | 10 | |||||||
Less: accumulated amortization | (293 | ) | (486 | ) | ||||||
Strategic marketing agreement, net | 5,910 | 5,717 | ||||||||
Tradenames | 843 | 877 | 3.8 | |||||||
Less: accumulated amortization | (196 | ) | (365 | ) | ||||||
Tradenames, net | 647 | 512 | ||||||||
Trademarks | 247 | 247 | Indefinite | |||||||
Intangible assets, net | $ | 44,249 | $ | 38,766 | ||||||
Schedule of estimate of future amortization expense for acquired intangible assets | ' | |||||||||
(in thousands) | ||||||||||
October 1, 2013 to December 31, 2013 | $ | 2,118 | ||||||||
2014 | 7,563 | |||||||||
2015 | 6,100 | |||||||||
2016 | 5,782 | |||||||||
2017 | 6,026 | |||||||||
Thereafter | 10,930 | |||||||||
Total | $ | 38,519 | ||||||||
Schedule of changes in carrying amounts of goodwill | ' | |||||||||
Carrying | ||||||||||
(in thousands) | Amount | |||||||||
Balance at December 31, 2012 | $ | 65,825 | ||||||||
oneTEM | 655 | |||||||||
Foreign exchange translation effect | (487 | ) | ||||||||
Balance at September 30, 2013 | $ | 65,993 |
Restructuring_Charge_Tables
Restructuring Charge (Tables) | 9 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Restructuring Charge | ' | ||||||||||
Summary of the activity in the liabilities related to the restructuring charge | ' | ||||||||||
Lease costs, net | |||||||||||
of estimated | |||||||||||
(in thousands) | sublease income | Other Costs | Total | ||||||||
Remaining liability at December 31, 2012 | $ | 613 | $ | (8 | ) | $ | 605 | ||||
Cash payments | (736 | ) | — | (736 | ) | ||||||
Non-cash charges and other | 2 | 8 | 10 | ||||||||
Restructuring charge | 654 | — | 654 | ||||||||
Remaining liability at September 30, 2013 | 533 | 0 | 533 | ||||||||
Less: current portion | (533 | ) | |||||||||
Long-term portion | $ | 0 | |||||||||
Debt_Tables
Debt (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Debt | ' | |||||||
Schedule of debt outstanding | ' | |||||||
December 31, | September 30, | |||||||
(in thousands) | 2012 | 2013 | ||||||
HCL-EMS contingent consideration, net of unamortized discount of $12 and $0 at December 31, 2012 and September 30, 2013, respectively. Payable as described below. | $ | 2,046 | $ | 891 | ||||
Deferred Telwares purchase price, net of unamortized discount of $24 and $0 at December 31, 2012 and September 30, 2013, respectively. | 1,226 | — | ||||||
Deferred ProfitLine purchase price, net of unamortized discount of $62 and $0 at December 31, 2012 and September 30, 2013, respectively. Payable as described below. | 4,438 | 23 | ||||||
Deferred Anomalous purchase price, net of unamortized discount of $1 and $0 at December 31, 2012 and September 30, 2013, respectively. | 978 | — | ||||||
Deferred ttMobiles purchase price, net of unamortized discount of $10 and $0 at December 31, 2012 and September 30, 2013, respectively. | 2,420 | — | ||||||
Deferred Symphony purchase price, net of unamortized discount of $128 and $0 at December 31, 2012 and September 30, 2013, respectively. Payable as described below. | 10,662 | 1,279 | ||||||
Deferred oneTEM purchase price and contingent consideration, net of unamortized discount of $111 at September 30, 2013. Payable as described below. | — | 660 | ||||||
Capital lease and other obligations | 804 | 720 | ||||||
Total notes payable | $ | 22,574 | $ | 3,573 | ||||
Less current portion | $ | (22,443 | ) | $ | (3,372 | ) | ||
Notes payable, less current portion | $ | 131 | $ | 201 |
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Stockholders' Equity | ' | |||||||||||||
Summary of warrants exercised to purchase common stock | ' | |||||||||||||
Number of | ||||||||||||||
Stock | ||||||||||||||
Warrants | Warrants | |||||||||||||
Outstanding at beginning of the year | 25,617 | |||||||||||||
Exercised | (14,907 | ) | ||||||||||||
Issued | — | |||||||||||||
Cancelled | — | |||||||||||||
Outstanding at end of the period | 10,710 | |||||||||||||
Weighted average exercise price | $ | 13.26 | ||||||||||||
Summary of status of stock options issued pursuant to the plans | ' | |||||||||||||
Options | Number of Shares | Weighted | Weighted | |||||||||||
Average | Average | |||||||||||||
Exercise | Contractual | |||||||||||||
Price | Life (years) | |||||||||||||
Outstanding at beginning of the year | 6,854,369 | $ | 7.92 | |||||||||||
Granted | 463,475 | $ | 14.25 | |||||||||||
Forfeited | (119,067 | ) | $ | 13.01 | ||||||||||
Exercised | (847,134 | ) | $ | 4.62 | ||||||||||
Outstanding at end of the period | 6,351,643 | $ | 8.73 | 7.1 | ||||||||||
Exercisable at end of the period | 3,933,447 | $ | 6.54 | 6.4 | ||||||||||
Available for future grants at September 30, 2013 | 1,018,338 | |||||||||||||
Summary of intrinsic values of options outstanding, vested and exercised | ' | |||||||||||||
2013 | ||||||||||||||
Number of | Intrinsic | |||||||||||||
Options | Value | |||||||||||||
Outstanding | 6,351,643 | $ | 95,907,266 | |||||||||||
Vested | 3,933,447 | $ | 68,020,878 | |||||||||||
Exercised | 847,134 | $ | 12,276,044 | |||||||||||
Summary of status of restricted stock units issued pursuant to the plans | ' | |||||||||||||
Restricted Stock Units | Number of Shares | Weighted | ||||||||||||
Average Fair | ||||||||||||||
Value | ||||||||||||||
Outstanding at beginning of the year | 221,314 | $ | 17.27 | |||||||||||
Granted | 627,534 | $ | 14.85 | |||||||||||
Vested | (84,100 | ) | $ | 17.14 | ||||||||||
Forfeited | (1,050 | ) | $ | 15.08 | ||||||||||
Outstanding at end of the period | 763,698 | $ | 15.3 | |||||||||||
Schedule of total compensation expense for stock-based compensation awards included in the accompanying condensed consolidated statements of operations | ' | |||||||||||||
In accordance with ASC 718, Share Based Payment (“ASC 718”), total compensation expense for stock-based compensation awards was $6.5 million and $9.8 million for the nine months ended September 30, 2012 and 2013, respectively, which is included on the accompanying condensed consolidated statements of operations as follows (in thousands): | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
September 30, | September 30, | |||||||||||||
2012 | 2013 | 2012 | 2013 | |||||||||||
Cost of goods sold | $ | 362 | $ | 529 | $ | 947 | $ | 1,609 | ||||||
Sales and marketing expenses | 586 | 978 | 1,455 | 2,747 | ||||||||||
General and administrative expenses | 1,643 | 1,551 | 3,727 | 4,664 | ||||||||||
Research and development | 164 | 244 | 410 | 753 | ||||||||||
Total stock-based employee compensation | $ | 2,755 | $ | 3,302 | $ | 6,539 | $ | 9,773 | ||||||
Schedule of stock-based employee compensation expense for equity awards granted | ' | |||||||||||||
Stock-based employee compensation expense for equity awards granted since January 1, 2006 will be recognized over the following periods as follows (in thousands): | ||||||||||||||
Years Ending December 31, | ||||||||||||||
2013 | $ | 3,272 | ||||||||||||
2014 | 11,718 | |||||||||||||
2015 | 8,106 | |||||||||||||
2016 | 2,333 | |||||||||||||
2017 | 123 | |||||||||||||
$ | 25,552 | |||||||||||||
Schedule of valuation assumptions used to determine value of options granted during the year using Black-Scholes valuation model | ' | |||||||||||||
2013 | ||||||||||||||
Expected dividend yield | 0% | |||||||||||||
Risk-free interest rate | 1.04% to 1.86% | |||||||||||||
Expected term (in years) | 5.7 - 6.1 years | |||||||||||||
Expected volatility | 56.34% - 56.84% | |||||||||||||
Fair_Value_Measurement_Tables
Fair Value Measurement (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Fair Value Measurement | ' | |||||||||||||
Schedule of assets and liabilities measured at fair value on a recurring basis | ' | |||||||||||||
Fair Value Measurement at September 30, 2013 | ||||||||||||||
(in thousands) | Total | Level 1 | Level 2 | Level 3 | ||||||||||
Money market | $ | 18,336 | $ | 18,336 | $ | — | $ | — | ||||||
Contingent HCL-EMS acquisition consideration | 891 | — | — | 891 | ||||||||||
Contingent oneTEM acquisition consideration | 198 | –– | –– | 198 | ||||||||||
$ | 19,425 | $ | 18,336 | $ | — | $ | 1,089 | |||||||
Fair Value Measurement at December 31, 2012 | ||||||||||||||
(in thousands) | Total | Level 1 | Level 2 | Level 3 | ||||||||||
Money market | $ | 28,094 | $ | 28,094 | $ | — | $ | — | ||||||
Contingent HCL-EMS acquisition consideration | 2,046 | — | — | 2,046 | ||||||||||
$ | 30,140 | $ | 28,094 | $ | — | $ | 2,046 | |||||||
Changes in the fair value of the Level 3 liability | ' | |||||||||||||
Contingent acquisition consideration | ||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||
(in thousands) | HCL-EMS | oneTEM | ||||||||||||
Balance, beginning of period | $ | 2,046 | $ | — | ||||||||||
Initial earn-out consideration | — | 181 | ||||||||||||
Imputed Interest | 12 | 17 | ||||||||||||
Cash payments | (1,000 | ) | –– | |||||||||||
Second year earn-out adjustment | (167 | ) | — | |||||||||||
Balance, end of period | $ | 891 | $ | 198 |
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Supplemental Cash Flow Information | ' | |||||||
Schedule of information about other cash flow activities | ' | |||||||
Nine months ended September 30, | ||||||||
(in thousands) | 2012 | 2013 | ||||||
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||||||||
Cash paid for: | ||||||||
Interest | $ | 94 | $ | 65 | ||||
Income tax payments | $ | 284 | $ | 345 | ||||
NON-CASH TRANSACTIONS: | ||||||||
Deferred purchase price in connection with Anomalous acquisition | $ | 950 | $ | — | ||||
Deferred purchase price in connection with ttMobiles acquisition | $ | 2,315 | $ | — | ||||
Deferred purchase price in connection with Symphony acquisition | $ | 10,942 | $ | –– | ||||
Deferred purchase price in connection with oneTEM acquisition | $ | — | $ | 616 | ||||
Issuance of common stock in payment of board of directors fees | $ | 20 | $ | — | ||||
Cashless exercise of warrants | $ | 479 | $ | — |
Organization_Description_of_Bu1
Organization, Description of Business (Details) (Common Stock, USD $) | 1 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Aug. 31, 2011 | Aug. 31, 2011 | Apr. 30, 2012 | Apr. 30, 2012 |
Initial public offering | Initial public offering | April 2012 public offering | April 2012 public offering | |
Underwriter option | Underwriter option | |||
Public Offerings | ' | ' | ' | ' |
Issuance of shares, net of issuance costs (in shares) | 7,500,000 | ' | 2,200,000 | ' |
Price to the public (in dollars per share) | $10 | ' | $18.50 | ' |
Proceeds from initial public offering, net of underwriting discounts and commissions and other offering costs | $66 | ' | $38.50 | ' |
Offering costs | $3.80 | ' | $0.70 | ' |
Stock sold by certain existing stockholders (in shares) | 2,585,500 | 1,315,500 | 7,000,000 | 1,200,000 |
Business_Combinations_Details
Business Combinations (Details) | 3 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 7 Months Ended | 9 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | ||||||||||||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Jan. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jan. 10, 2012 | Jan. 31, 2013 | Jan. 31, 2012 | Jan. 10, 2012 | Jan. 31, 2012 | Jan. 10, 2012 | Jan. 31, 2012 | Jan. 10, 2012 | Jan. 31, 2012 | Jan. 10, 2012 | Feb. 21, 2012 | Feb. 21, 2012 | Feb. 21, 2013 | Feb. 28, 2013 | Feb. 21, 2012 | Feb. 21, 2012 | Feb. 21, 2012 | Feb. 21, 2012 | Aug. 08, 2012 | Sep. 30, 2012 | Aug. 08, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Feb. 28, 2013 | Sep. 30, 2013 | Aug. 08, 2013 | Oct. 31, 2013 | Aug. 08, 2012 | Aug. 08, 2012 | Aug. 08, 2012 | Apr. 18, 2013 | Apr. 18, 2013 | Apr. 18, 2013 | Apr. 18, 2013 | Sep. 30, 2013 | Apr. 18, 2013 | Apr. 18, 2013 | Apr. 18, 2013 | |
USD ($) | USD ($) | USD ($) | USD ($) | Technology | Customer relationships | Non-compete covenants | Tradenames | Anomalous | Anomalous | Anomalous | Anomalous | Anomalous | Anomalous | Anomalous | Anomalous | Anomalous | Anomalous | Anomalous | Anomalous | Anomalous | Anomalous | ttMobiles | ttMobiles | ttMobiles | ttMobiles | ttMobiles | ttMobiles | ttMobiles | ttMobiles | Symphony | Symphony | Symphony | Symphony | Symphony | Symphony | Symphony | Symphony | Symphony | Symphony | Symphony | Symphony | Symphony | Symphony | oneTEM | oneTEM | oneTEM | oneTEM | oneTEM | oneTEM | oneTEM | oneTEM | |
USD ($) | Installment payment due first anniversary after closing (January 10, 2013) | Technology | Technology | Customer relationships | Customer relationships | Non-compete covenants | Non-compete covenants | Tradenames | Tradenames | USD ($) | GBP (£) | Installment payment due February 21, 2013 | Installment payment due February 21, 2013 | Technology | Customer relationships | Non-compete covenants | Tradenames | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Minimum | Consideration payable on achievement of revenue targets | Cash payable on the six-month anniversary of the closing | Cash payable on the six-month anniversary of the closing | Installment payment due August 08, 2013 | Installment payment due August 08, 2013 | Technology | Customer relationships | Tradenames | USD ($) | EUR (€) | Installment payment due first anniversary of closing | Installment payment due first anniversary of closing | Installment payment due first anniversary of closing | Customer relationships | Non-compete covenants | Tradenames | |||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | GBP (£) | GBP (£) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | item | EUR (€) | Contingent consideration | Contingent consideration | USD ($) | USD ($) | USD ($) | ||||||||||||||||||||||||||
EUR (€) | EUR (€) | |||||||||||||||||||||||||||||||||||||||||||||||||||
item | item | |||||||||||||||||||||||||||||||||||||||||||||||||||
Business combinations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred cash consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $979,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,400,000 | ' | $4,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contingent consideration under Indian purchase agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred cash consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | 400,000 | ' | ' | ' |
Contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | 40,200,000 | ' | 4,400,000 | 6,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred cash consideration paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 979,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,400,000 | ' | 4,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unregistered shares of common stock issued as a consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | 165,775 | ' | 165,775 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unvested and unregistered shares of common stock with vesting based upon achievement of revenue targets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 132,617 | ' | 132,617 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unvested and unregistered shares of common stock cancelled and retired | ' | ' | ' | ' | ' | ' | ' | ' | 132,617 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of unregistered and unvested shares of the common stock valued by using closing price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 165,775 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Marketability discount rate applied to the fair value of the unregistered and unvested shares (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,400,000 | ' | 5,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of anniversaries for which additional consideration payable following the closing date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | 4 | ' | ' | ' | ' |
Number of consecutive 12-month earn-out period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | 4 | 4 | ' | ' | ' |
Earn-out period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '12 months | '12 months | ' | ' | ' |
Deferred cash consideration for four consecutive 12-month earn-out periods | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 200,000 | ' | ' | ' |
Strategic consulting, software licenses and other revenue | 4,997,000 | 4,000,000 | 14,831,000 | 11,573,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' |
Anniversary payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred cash consideration paid related to indemnity matters | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred cash consideration change in purchase price due to net asset adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount paid for indemnity matters resolved which was previously deducted from deferred cash consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earn-out payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Breakdown of purchase price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,521,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,359,000 | 4,000,000 | ' | ' | ' | ' | ' | ' | 29,208,000 | ' | 29,208,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,221,000 | 900,000 | ' | ' | ' | ' | ' | ' |
Common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,984,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of deferred purchase price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,495,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,315,000 | ' | ' | ' | ' | ' | ' | ' | 10,793,000 | ' | 10,793,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 433,000 | ' | ' | ' | ' | ' | ' | ' |
Fair value of contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 183,000 | ' | ' | ' | ' | ' | ' | ' |
Total | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,674,000 | ' | ' | ' | ' | ' | ' | ' | 40,001,000 | ' | 40,001,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,837,000 | ' | ' | ' | ' | ' | ' | ' |
Allocation of Purchase Consideration: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,140,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,469,000 | ' | ' | ' | ' | ' | ' | ' | 5,628,000 | ' | 5,628,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 565,000 | ' | ' | ' | ' | ' | ' | ' |
Property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 188,000 | ' | ' | ' | ' | ' | ' | ' | 602,000 | ' | 602,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' | ' | ' | ' |
Other assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Identifiable intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,857,000 | ' | ' | 2,017,000 | ' | 236,000 | ' | 553,000 | ' | 51,000 | 4,288,000 | ' | ' | ' | 1,178,000 | 2,606,000 | 116,000 | 388,000 | 13,790,000 | ' | 13,790,000 | ' | ' | ' | ' | ' | ' | ' | ' | 4,050,000 | 9,680,000 | 60,000 | 870,000 | ' | ' | ' | ' | 535,000 | 298,000 | 37,000 |
Goodwill | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,477,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,557,000 | ' | ' | ' | ' | ' | ' | ' | 20,936,000 | ' | 20,936,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 655,000 | ' | ' | ' | ' | ' | ' | ' |
Total assets acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,531,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,502,000 | ' | ' | ' | ' | ' | ' | ' | 40,956,000 | ' | 40,956,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,100,000 | ' | ' | ' | ' | ' | ' | ' |
Accounts payable and accrued expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -394,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -848,000 | ' | ' | ' | ' | ' | ' | ' | -335,000 | ' | -335,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -152,000 | ' | ' | ' | ' | ' | ' | ' |
Taxes payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -111,000 | ' | ' | ' | ' | ' | ' | ' |
Deferred taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -767,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -954,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -370,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -26,000 | ' | ' | ' | ' | ' | ' | ' | -620,000 | ' | -620,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,674,000 | ' | ' | ' | ' | ' | ' | ' | 40,001,000 | ' | 40,001,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,837,000 | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Useful Life | ' | ' | ' | ' | '6 years 1 month 6 days | '8 years 8 months 12 days | '2 years | '3 years 9 months 18 days | ' | ' | ' | ' | ' | ' | '5 years | ' | '4 years | ' | '2 years | ' | '3 years | ' | ' | ' | ' | ' | '5 years | '9 years | '2 years | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '9 years | '3 years | ' | ' | ' | ' | ' | '8 years | '2 years | '2 years 8 months 12 days |
Unaudited pro forma results | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | 47,620,000 | 40,458,000 | 139,138,000 | 133,337,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,400,000 | 5,500,000 | 13,000,000 | 10,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating income | 1,324,000 | 967,000 | 3,004,000 | 2,128,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | $1,555,000 | $584,000 | $3,127,000 | $1,094,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic income per common share (in dollars per share) | $0.04 | $0.02 | $0.08 | $0.03 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Diluted income per common share (in dollars per share) | $0.04 | $0.01 | $0.08 | $0.03 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lock-up period of unregistered shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income_per_Share_Applicable_to2
Income per Share Applicable to Common Stockholders (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Basic net income per common share | ' | ' | ' | ' |
Net income | $1,555 | $581 | $3,229 | $1,111 |
Basic income per common share (in dollars per share) | $0.04 | $0.02 | $0.09 | $0.03 |
Weighted-average common shares outstanding | 37,698 | 37,410 | 37,546 | 36,079 |
Diluted net income per common share | ' | ' | ' | ' |
Net income | $1,555 | $581 | $3,229 | $1,111 |
Diluted income per common share (in dollars per share) | $0.04 | $0.01 | $0.08 | $0.03 |
Weighted-average common shares used to compute diluted net income per share | 40,872 | 40,963 | 40,240 | 39,616 |
Income_per_Share_Applicable_to3
Income per Share Applicable to Common Stockholders (Details 2) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Outstanding stock options | ' | ' | ' | ' |
Potentially dilutive securities | ' | ' | ' | ' |
Potential dilutive securities considered as anti-dilutive | 2,315 | 2,169 | 2,565 | 2,169 |
Outstanding restricted stock units | ' | ' | ' | ' |
Potentially dilutive securities | ' | ' | ' | ' |
Potential dilutive securities considered as anti-dilutive | 476 | 176 | 587 | 173 |
Common stock warrants | ' | ' | ' | ' |
Potentially dilutive securities | ' | ' | ' | ' |
Potential dilutive securities considered as anti-dilutive | 7 | 10 | 9 | 10 |
Computers_Furniture_and_Equipm2
Computers, Furniture and Equipment-Net (Details) (USD $) | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Computers, furniture and equipment-net | ' | ' | ' |
Computers, furniture and equipment-gross | $14,033,000 | ' | $12,216,000 |
Less accumulated depreciation | -9,785,000 | ' | -8,217,000 |
Computers, furniture and equipment-net | 4,248,000 | ' | 3,999,000 |
Depreciation and amortization expense | 1,600,000 | 1,500,000 | ' |
Computers and software | ' | ' | ' |
Computers, furniture and equipment-net | ' | ' | ' |
Computers, furniture and equipment-gross | 11,499,000 | ' | 10,018,000 |
Equipment under capital leases | ' | ' | ' |
Computers, furniture and equipment-net | ' | ' | ' |
Computers, furniture and equipment-gross | 2,500,000 | ' | 2,500,000 |
Less accumulated depreciation | 2,300,000 | ' | 2,000,000 |
Furniture and fixtures | ' | ' | ' |
Computers, furniture and equipment-net | ' | ' | ' |
Computers, furniture and equipment-gross | 1,174,000 | ' | 1,032,000 |
Leasehold improvements | ' | ' | ' |
Computers, furniture and equipment-net | ' | ' | ' |
Computers, furniture and equipment-gross | $1,360,000 | ' | $1,166,000 |
Intangible_Assets_and_Goodwill2
Intangible Assets and Goodwill (Details) (USD $) | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Intangible assets | ' | ' | ' |
Net | $38,519,000 | ' | ' |
Trademarks | 247,000 | ' | 247,000 |
Intangible assets, net | 38,766,000 | ' | 44,249,000 |
Amortization expense of intangible assets | 6,100,000 | 4,700,000 | ' |
Estimate of future amortization expense for acquired intangible assets | ' | ' | ' |
October 1, 2013 to December 31, 2013 | 2,118,000 | ' | ' |
2014 | 7,563,000 | ' | ' |
2015 | 6,100,000 | ' | ' |
2016 | 5,782,000 | ' | ' |
2017 | 6,026,000 | ' | ' |
Thereafter | 10,930,000 | ' | ' |
Net | 38,519,000 | ' | ' |
Patents | ' | ' | ' |
Intangible assets | ' | ' | ' |
Gross | 1,054,000 | ' | 1,054,000 |
Less: accumulated amortization | -864,000 | ' | -766,000 |
Net | 190,000 | ' | 288,000 |
Weighted Average Useful Life | '8 years | ' | ' |
Estimate of future amortization expense for acquired intangible assets | ' | ' | ' |
Net | 190,000 | ' | 288,000 |
Technological know-how | ' | ' | ' |
Intangible assets | ' | ' | ' |
Gross | 15,070,000 | ' | 15,141,000 |
Less: accumulated amortization | -7,126,000 | ' | -4,913,000 |
Net | 7,944,000 | ' | 10,228,000 |
Weighted Average Useful Life | '6 years 1 month 6 days | ' | ' |
Estimate of future amortization expense for acquired intangible assets | ' | ' | ' |
Net | 7,944,000 | ' | 10,228,000 |
Customer relationships | ' | ' | ' |
Intangible assets | ' | ' | ' |
Gross | 37,879,000 | ' | 37,358,000 |
Less: accumulated amortization | -14,052,000 | ' | -10,793,000 |
Net | 23,827,000 | ' | 26,565,000 |
Weighted Average Useful Life | '8 years 8 months 12 days | ' | ' |
Estimate of future amortization expense for acquired intangible assets | ' | ' | ' |
Net | 23,827,000 | ' | 26,565,000 |
Covenants not to compete | ' | ' | ' |
Intangible assets | ' | ' | ' |
Gross | 1,159,000 | ' | 881,000 |
Less: accumulated amortization | -830,000 | ' | -517,000 |
Net | 329,000 | ' | 364,000 |
Weighted Average Useful Life | '2 years | ' | ' |
Estimate of future amortization expense for acquired intangible assets | ' | ' | ' |
Net | 329,000 | ' | 364,000 |
Strategic marketing agreement | ' | ' | ' |
Intangible assets | ' | ' | ' |
Gross | 6,203,000 | ' | 6,203,000 |
Less: accumulated amortization | -486,000 | ' | -293,000 |
Net | 5,717,000 | ' | 5,910,000 |
Weighted Average Useful Life | '10 years | ' | ' |
Estimate of future amortization expense for acquired intangible assets | ' | ' | ' |
Net | 5,717,000 | ' | 5,910,000 |
Tradenames | ' | ' | ' |
Intangible assets | ' | ' | ' |
Gross | 877,000 | ' | 843,000 |
Less: accumulated amortization | -365,000 | ' | -196,000 |
Net | 512,000 | ' | 647,000 |
Weighted Average Useful Life | '3 years 9 months 18 days | ' | ' |
Estimate of future amortization expense for acquired intangible assets | ' | ' | ' |
Net | $512,000 | ' | $647,000 |
Intangible_Assets_and_Goodwill3
Intangible Assets and Goodwill (Details 2) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Changes in carrying amounts of goodwill | ' |
Balance at the beginning of the period | $65,825 |
Foreign exchange translation effect | -487 |
Balance at the end of the period | 65,993 |
oneTEM | ' |
Changes in carrying amounts of goodwill | ' |
Goodwill | $655 |
Restructuring_Charge_Details
Restructuring Charge (Details) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended |
Mar. 31, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | |
Restructuring Charge | ' | ' | ' |
Adjustment to restructuring charges for inability to sublease the office space | $100,000 | ' | ' |
Settlement fees for lease termination | ' | 900,000 | ' |
Adjustment to restructuring charges for lease termination | ' | 500,000 | ' |
Activity in the liabilities related to the restructuring charge | ' | ' | ' |
Remaining liability at the beginning of the period | 605,000 | 605,000 | 605,000 |
Cash payments | ' | ' | -736,000 |
Non-cash charges and other | ' | ' | 10,000 |
Restructuring charge | ' | ' | 654,000 |
Remaining liability at the end of the period | ' | ' | 533,000 |
less: current portion | ' | ' | -533,000 |
Long-term portion | ' | ' | 0 |
Lease costs, net of estimated sublease income | ' | ' | ' |
Activity in the liabilities related to the restructuring charge | ' | ' | ' |
Remaining liability at the beginning of the period | 613,000 | 613,000 | 613,000 |
Cash payments | ' | ' | -736,000 |
Non-cash charges and other | ' | ' | 2,000 |
Restructuring charge | ' | ' | 654,000 |
Remaining liability at the end of the period | ' | ' | 533,000 |
Other Costs | ' | ' | ' |
Activity in the liabilities related to the restructuring charge | ' | ' | ' |
Remaining liability at the beginning of the period | -8,000 | -8,000 | -8,000 |
Non-cash charges and other | ' | ' | 8,000 |
Remaining liability at the end of the period | ' | ' | $0 |
Debt_Details
Debt (Details) | Sep. 30, 2013 | Dec. 31, 2012 | Mar. 16, 2013 | Mar. 16, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 16, 2013 | Dec. 19, 2011 | Dec. 19, 2012 | Jun. 19, 2013 | Jan. 10, 2012 | Jan. 31, 2013 | Feb. 21, 2013 | Feb. 28, 2013 | Sep. 30, 2013 | Aug. 08, 2012 | Sep. 30, 2013 | Aug. 08, 2013 | Oct. 31, 2013 | Feb. 28, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Apr. 18, 2013 | Apr. 18, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Jan. 25, 2011 | Dec. 31, 2012 | Aug. 31, 2013 | Apr. 30, 2013 | Apr. 18, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Mar. 16, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 19, 2011 | Dec. 31, 2012 | Jul. 31, 2013 | Oct. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Jan. 10, 2012 | Jan. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Feb. 21, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Aug. 08, 2012 | Sep. 30, 2013 | Aug. 08, 2013 | Oct. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
USD ($) | USD ($) | Telwares | Telwares | Telwares | Telwares | Telwares | ProfitLine | ProfitLine | ProfitLine | Anomalous | Anomalous | ttMobiles | ttMobiles | Symphony | Symphony | Symphony | Symphony | Symphony | Symphony | Symphony | Symphony | oneTEM | oneTEM | Contingent consideration | Contingent consideration | Contingent consideration | Contingent consideration | Contingent consideration | Contingent consideration | Contingent consideration | Contingent consideration | Deferred purchase price | Deferred purchase price | Deferred purchase price | Deferred purchase price | Deferred purchase price | Deferred purchase price | Deferred purchase price | Deferred purchase price | Deferred purchase price | Deferred purchase price | Deferred purchase price | Deferred purchase price | Deferred purchase price | Deferred purchase price | Deferred purchase price | Deferred purchase price | Deferred purchase price | Deferred purchase price | Deferred purchase price | Deferred purchase price | Deferred purchase price | Deferred purchase price | Deferred purchase price | Deferred purchase price and contingent consideration | Capital lease and other obligations | Capital lease and other obligations | |
Installment payment due March 16, 2012 | Installment payment due March 16, 2012 | Installment payment due March 16, 2012 | Installment payment due March 16, 2013 | Consideration payable on achievement of revenue targets | USD ($) | Installment payment due December 19, 2012 | Installment payment due June 19, 2013 | USD ($) | Installment payment due first anniversary after closing (January 10, 2013) | Installment payment due February 21, 2013 | Installment payment due February 21, 2013 | USD ($) | USD ($) | Minimum | Cash payable on twelve month anniversary of the closing | Cash payable on twelve month anniversary of the closing | Cash payable on the six-month anniversary of the closing | Cash payable on the six-month anniversary of the closing | Consideration payable on achievement of revenue targets | item | Cash payable on first year anniversary of the closing | HCL-EMS | HCL-EMS | HCL-EMS | HCL-EMS | HCL-EMS | HCL-EMS | oneTEM | oneTEM | Telwares | Telwares | Telwares | Telwares | ProfitLine | ProfitLine | ProfitLine | ProfitLine | ProfitLine | ProfitLine | Anomalous | Anomalous | Anomalous | Anomalous | ttMobiles | ttMobiles | ttMobiles | Symphony | Symphony | Symphony | Symphony | Symphony | Symphony | oneTEM | USD ($) | USD ($) | |||
USD ($) | USD ($) | USD ($) | USD ($) | Maximum | USD ($) | After payment of first installment and before payment of second installment | USD ($) | GBP (£) | GBP (£) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | Installment payment due March 16, 2012 | Installment payment due March 16, 2013 | Installment payment due March 16, 2013 | Cash payable on first year anniversary of the closing | Cash payable on first year anniversary of the closing | USD ($) | USD ($) | USD ($) | Consideration payable on achievement of revenue targets | USD ($) | USD ($) | USD ($) | Installment payment due December 19, 2012 | Installment payment due June 19, 2013 | Installment payment due June 19, 2013 | USD ($) | USD ($) | USD ($) | Installment payment due first anniversary after closing (January 10, 2013) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Maximum | Cash payable on twelve month anniversary of the closing | Cash payable on twelve month anniversary of the closing | USD ($) | ||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | EUR (€) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||||||||||||||||||||||||||||||||||||||||
item | item | item | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total notes payable | $3,573,000 | $22,574,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $891,000 | $2,046,000 | ' | ' | ' | ' | ' | ' | ' | $1,226,000 | ' | ' | $23,000 | $4,438,000 | ' | ' | ' | ' | ' | $978,000 | ' | ' | ' | $2,420,000 | ' | $1,279,000 | $10,662,000 | ' | ' | ' | ' | $660,000 | $720,000 | $804,000 |
Less current portion | -3,372,000 | -22,443,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes payable, less current portion | 201,000 | 131,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross amount of earn-out | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | 6,400,000 | ' | ' | 4,400,000 | 40,200,000 | ' | ' | ' | ' | ' | 1,900,000 | 900,000 | 1,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unamortized discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 12,000 | ' | ' | ' | ' | ' | ' | 0 | 24,000 | ' | ' | 0 | 62,000 | ' | ' | ' | ' | 0 | 1,000 | ' | ' | 0 | 10,000 | ' | 0 | 128,000 | ' | ' | ' | ' | 111,000 | ' | ' |
Deferred cash consideration | ' | ' | ' | ' | ' | ' | ' | 9,000,000 | ' | ' | 979,000 | ' | ' | ' | ' | 4,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred cash consideration | ' | ' | ' | ' | 1,250,000 | 1,250,000 | ' | ' | 4,500,000 | ' | ' | ' | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred cash consideration paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 979,000 | ' | 1,500,000 | ' | ' | ' | 4,900,000 | ' | 4,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,100,000 | 4,100,000 | ' | ' | ' | ' | 979,000 | ' | ' | ' | ' | ' | ' | ' | 4,900,000 | ' | ' | ' | ' |
Payment | ' | ' | 1,250,000 | 1,250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,500,000 | 4,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,400,000 | ' | ' | ' | ' |
Agreed reduction in gross amount of the year first earn-out | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred cash consideration paid related to indemnity matters | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | ' | ' | ' |
Number of payees entitled to receive deferred cash consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred cash consideration due to one of the stockholders whom the entity was unable to locate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of deferred cash consideration due to payee and withheld by the Company for not responding to the Company's communications | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Imputed interest recorded based on weighted average cost of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' | ' | ' | ' | 100,000 | ' | ' | 300,000 | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | 29,000 | ' | ' | ' | 100,000 | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' |
Deferred cash consideration change in purchase price due to net asset adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' |
Amount paid for indemnity matters resolved which was previously deducted from deferred cash consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | ' | ' |
Contingent consideration under Indian purchase agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contingent advance escrow deposit | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earn-out payable, maximum amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | ' | ' | ' |
Earn-out payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred cash consideration paid related to installment resulting from reduction in potential cash payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of consecutive 12-month earn-out period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | 4 | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earn-out period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '12 months | '12 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred cash consideration for four consecutive 12-month earn-out periods | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | € 200,000 | € 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders_Equity_Details
Stockholders' Equity (Details) (USD $) | 1 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Nov. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 05, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Jan. 31, 2012 | Sep. 30, 2012 |
2011 Plan | 2011 Plan | Anomalous | Anomalous | Anomalous | ||||
Common Stock | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, par value (in dollars per share) | ' | $0.00 | $0.00 | ' | ' | ' | ' | ' |
Common stock, shares authorized | ' | 150,000,000 | 150,000,000 | ' | ' | ' | ' | ' |
Common stock, shares issued | ' | 38,125,858 | 37,613,327 | ' | ' | ' | ' | ' |
Common stock, shares outstanding | ' | 38,125,858 | 37,613,327 | ' | ' | ' | ' | ' |
Unregistered shares of common stock issued as a consideration | ' | ' | ' | ' | ' | ' | 165,775 | 165,775 |
Unvested and unregistered shares of common stock with vesting based upon achievement of revenue targets | ' | ' | ' | ' | ' | ' | 132,617 | 132,617 |
Unvested and unregistered shares of common stock cancelled and retired | ' | ' | ' | ' | ' | 132,617 | ' | ' |
Shares issued | ' | ' | ' | ' | 5,991 | ' | ' | ' |
Issuance of shares to employees and board of directors (in shares) | ' | ' | ' | ' | 58,975 | ' | ' | ' |
Additional number of common shares reserved for future issuance | ' | ' | ' | 1,000,000 | ' | ' | ' | ' |
Authorized amount of shares repurchased | $20 | ' | ' | ' | ' | ' | ' | ' |
Shares repurchased | ' | 365,959 | ' | ' | ' | ' | ' | ' |
Average price of shares repurchased and retired (in dollars per share) | ' | $12.40 | ' | ' | ' | ' | ' | ' |
Amount of shares repurchased and retired | ' | $4.50 | ' | ' | ' | ' | ' | ' |
Preferred Stock | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, par value (in dollars per share) | ' | $0.00 | $0.00 | ' | ' | ' | ' | ' |
Preferred stock, shares authorized | ' | 5,000,000 | 5,000,000 | ' | ' | ' | ' | ' |
Preferred stock, shares issued | ' | 0 | 0 | ' | ' | ' | ' | ' |
Preferred stock, shares outstanding | ' | 0 | 0 | ' | ' | ' | ' | ' |
Stockholders_Equity_Details_2
Stockholders' Equity (Details 2) (USD $) | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 1 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 0 Months Ended | ||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Mar. 31, 2011 | Oct. 31, 2009 | Oct. 09, 2009 | Sep. 30, 2013 | Mar. 22, 2011 | Mar. 31, 2011 | Mar. 22, 2011 | Mar. 22, 2011 | Aug. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Oct. 09, 2009 | Oct. 09, 2009 | Oct. 31, 2009 | Oct. 09, 2009 | Oct. 31, 2009 | Dec. 31, 2009 | Dec. 31, 2010 | Jun. 30, 2012 | Jun. 08, 2011 | Jun. 08, 2011 | Jun. 08, 2011 | |
Dell strategic relationship agreement | IBM strategic relationship agreement | IBM strategic relationship agreement | Common Stock Warrants | Common Stock Warrants | Common Stock Warrants | Common Stock Warrants | Common Stock Warrants | Common Stock Warrants | Common Stock Warrants | Common Stock Warrants | Common Stock Warrants | Common Stock Warrants | Common Stock Warrants | Common Stock Warrants | Common Stock Warrants | Common Stock Warrants | Common Stock Warrants | Common Stock Warrants | Common Stock Warrants | Common Stock Warrants | Common Stock Warrants | Common Stock Warrants | ||||
Achievement of certain thresholds | Dell strategic relationship agreement | Dell strategic relationship agreement | Dell strategic relationship agreement | Dell strategic relationship agreement | IBM strategic relationship agreement | IBM strategic relationship agreement | IBM strategic relationship agreement | IBM strategic relationship agreement | IBM strategic relationship agreement | IBM strategic relationship agreement | IBM strategic relationship agreement | IBM strategic relationship agreement | IBM strategic relationship agreement | IBM strategic relationship agreement | IBM strategic relationship agreement | Amended IBM strategic relationship agreement | Amended IBM strategic relationship agreement | Amended IBM strategic relationship agreement | Amended IBM strategic relationship agreement | |||||||
Maximum | Achievement of certain thresholds | Achievement of certain thresholds | Achievement of certain thresholds | Maximum | Vested and exercisable immediately upon execution of agreement | Vested and exercisable immediately upon execution of agreement | Achievement of certain thresholds | Achievement of certain billing thresholds probable, initial assumption | Achievement of certain billing thresholds probable, actual billings to date | Maximum | Vested and exercisable immediately upon execution of agreement | Achievement of certain thresholds | ||||||||||||||
Maximum | Maximum | |||||||||||||||||||||||||
Warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued in cash exercise | ' | ' | ' | ' | ' | ' | 14,907 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds related to warrant exercise | ' | ' | ' | ' | ' | ' | $34,700 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued in cashless exercise | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 930,511 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares which can be purchased from issuance of warrant | ' | ' | ' | ' | ' | 2,308,125 | 0 | ' | ' | 1,282,789 | 1,282,789 | ' | ' | ' | ' | ' | 3,198,402 | ' | 890,277 | ' | 947,103 | 624,755 | ' | 2,166,658 | 624,755 | 651,626 |
Term of strategic relationship agreement | ' | ' | ' | '49 months | '5 years | ' | ' | ' | '49 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price of warrant (in dollars per share) | ' | ' | ' | ' | ' | ' | $13.26 | $5.99 | ' | ' | ' | ' | ' | ' | ' | $4.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period of achievement of certain billing thresholds required for exercise of warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' |
Value of shares exercisable under the warrant | 10,610,000 | ' | 10,610,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,700,000 | ' | 1,400,000 | ' | ' | ' | 4,500,000 | ' |
Expected term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | ' | ' | '5 years 9 months 18 days | ' | ' | ' | '5 years 3 months 18 days | ' |
Expected volatility (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67.77% | ' | ' | 61.15% | ' | ' | ' | 59.58% | ' |
Risk-free interest rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.93% | ' | ' | 2.28% | ' | ' | ' | 1.64% | ' |
Market value reversed for shares of common stock no longer deemed probable of being earned | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 920,000 | ' | ' | ' | ' |
Number of shares no longer deemed probable of being earned | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 322,348 | ' | ' | ' | ' |
Number of additional warrant shares earned | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Number of warrant shares issuable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Intangible asset amortization period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization recorded as a contra-revenue charge related to common stock warrant | $194,000 | $119,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $194,189 | $119,259 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants exercised to purchase common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at beginning of the year (in shares) | ' | ' | ' | ' | ' | ' | 25,617 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercised (in shares) | ' | ' | ' | ' | ' | ' | -14,907 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cancelled (in shares) | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | -584,521 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at end of the period (in shares) | ' | ' | ' | ' | ' | ' | 10,710 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average exercise price (in dollars per share) | ' | ' | ' | ' | ' | ' | $13.26 | $5.99 | ' | ' | ' | ' | ' | ' | ' | $4.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders_Equity_Details_3
Stockholders' Equity (Details 3) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
item | ||||
Stock option | ' | ' | ' | ' |
Number of stock-based compensation plans | ' | ' | 5 | ' |
Proceeds from stock option exercises | ' | ' | ' | ' |
Stock-based compensation expenses | $3,302,000 | $2,755,000 | $9,773,000 | $6,539,000 |
Stock Options | ' | ' | ' | ' |
Stock option | ' | ' | ' | ' |
Vesting period | ' | ' | '4 years | ' |
Award expiration from grant date | ' | ' | '10 years | ' |
Number of Shares | ' | ' | ' | ' |
Outstanding at beginning of the year (in shares) | ' | ' | 6,854,369 | ' |
Granted (in shares) | ' | ' | 463,475 | ' |
Forfeited (in shares) | ' | ' | -119,067 | ' |
Exercised (in shares) | ' | ' | -847,134 | ' |
Outstanding at end of the period (in shares) | 6,351,643 | ' | 6,351,643 | ' |
Exercisable at end of the period (in shares) | 3,933,447 | ' | 3,933,447 | ' |
Available for future grants at the end of the period (in shares) | 1,018,338 | ' | 1,018,338 | ' |
Weighted Average Exercise Price | ' | ' | ' | ' |
Outstanding at beginning of the year (in dollars per share) | ' | ' | $7.92 | ' |
Granted (in dollars per share) | ' | ' | $14.25 | ' |
Forfeited (in dollars per share) | ' | ' | $13.01 | ' |
Exercised (in dollars per share) | ' | ' | $4.62 | ' |
Outstanding at end of the period (in dollars per share) | $8.73 | ' | $8.73 | ' |
Exercisable at end of the period (in dollars per share) | $6.54 | ' | $6.54 | ' |
Weighted Average Contractual Life (years) | ' | ' | ' | ' |
Outstanding at end of the period | ' | ' | '7 years 1 month 6 days | ' |
Exercisable at end of the period | ' | ' | '6 years 4 months 24 days | ' |
Intrinsic Value | ' | ' | ' | ' |
Outstanding | 95,907,266 | ' | 95,907,266 | ' |
Vested | ' | ' | 68,020,878 | ' |
Exercised | ' | ' | 12,276,044 | ' |
Proceeds from stock option exercises | ' | ' | ' | ' |
Proceeds from stock option exercises | ' | ' | 3,900,000 | ' |
Stock Options | Minimum | ' | ' | ' | ' |
Weighted Average Exercise Price | ' | ' | ' | ' |
Exercised (in dollars per share) | ' | ' | $0.25 | ' |
Stock Options | Maximum | ' | ' | ' | ' |
Weighted Average Exercise Price | ' | ' | ' | ' |
Exercised (in dollars per share) | ' | ' | $20.39 | ' |
Restricted Stock Units | ' | ' | ' | ' |
Proceeds from stock option exercises | ' | ' | ' | ' |
Aggregate fair value of grant | ' | ' | 9,300,000 | ' |
Stock-based compensation expenses | ' | ' | 3,000,000 | ' |
Total unrecognized compensation cost, net of estimated forfeitures, related to unvested units | $9,300,000 | ' | $9,300,000 | ' |
Number of Shares | ' | ' | ' | ' |
Outstanding at beginning of the year (in shares) | ' | ' | 221,314 | ' |
Granted (in shares) | ' | ' | 627,534 | ' |
Vested (in shares) | ' | ' | -84,100 | ' |
Forfeited (in shares) | ' | ' | -1,050 | ' |
Outstanding at end of the period (in shares) | 763,698 | ' | 763,698 | ' |
Weighted Average Fair Value | ' | ' | ' | ' |
Outstanding at beginning of the year (in dollars per share) | ' | ' | $17.27 | ' |
Granted (in dollars per share) | ' | ' | $14.85 | ' |
Vested (in dollars per share) | ' | ' | $17.14 | ' |
Forfeited (in dollars per share) | ' | ' | $15.08 | ' |
Outstanding at end of the period (in dollars per share) | $15.30 | ' | $15.30 | ' |
Restricted Stock Units | Minimum | ' | ' | ' | ' |
Stock option | ' | ' | ' | ' |
Vesting period | ' | ' | '2 years | ' |
Restricted Stock Units | Maximum | ' | ' | ' | ' |
Stock option | ' | ' | ' | ' |
Vesting period | ' | ' | '4 years | ' |
Stockholders_Equity_Details_4
Stockholders' Equity (Details 4) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Total compensation expense for stock-based employee compensation awards | ' | ' | ' | ' |
Total stock-based employee compensation | $3,302 | $2,755 | $9,773 | $6,539 |
Stock-based employee compensation expense to be recognized for equity awards granted since January 1, 2006 | ' | ' | ' | ' |
2013 | 3,272 | ' | 3,272 | ' |
2014 | 11,718 | ' | 11,718 | ' |
2015 | 8,106 | ' | 8,106 | ' |
2016 | 2,333 | ' | 2,333 | ' |
2017 | 123 | ' | 123 | ' |
Total stock-based employee compensation yet to be recognized | 25,552 | ' | 25,552 | ' |
Cost of goods sold | ' | ' | ' | ' |
Total compensation expense for stock-based employee compensation awards | ' | ' | ' | ' |
Total stock-based employee compensation | 529 | 362 | 1,609 | 947 |
Sales and marketing expenses | ' | ' | ' | ' |
Total compensation expense for stock-based employee compensation awards | ' | ' | ' | ' |
Total stock-based employee compensation | 978 | 586 | 2,747 | 1,455 |
General and administrative expenses | ' | ' | ' | ' |
Total compensation expense for stock-based employee compensation awards | ' | ' | ' | ' |
Total stock-based employee compensation | 1,551 | 1,643 | 4,664 | 3,727 |
Research and development | ' | ' | ' | ' |
Total compensation expense for stock-based employee compensation awards | ' | ' | ' | ' |
Total stock-based employee compensation | $244 | $164 | $753 | $410 |
Stockholders_Equity_Details_5
Stockholders' Equity (Details 5) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Assumption for fair value of the option granted | ' |
Weighted average fair value per share of stock options granted | $7.55 |
Stock options and restricted stock units | ' |
Assumption for fair value of the option granted | ' |
Expected dividend yield (as a percent) | 0.00% |
Risk-free interest rate, minimum (as a percent) | 1.04% |
Risk-free interest rate, maximum (as a percent) | 1.86% |
Expected volatility, minimum (as a percent) | 56.34% |
Expected volatility, maximum (as a percent) | 56.84% |
Stock options and restricted stock units | Minimum | ' |
Assumption for fair value of the option granted | ' |
Expected term | '5 years 8 months 12 days |
Stock options and restricted stock units | Maximum | ' |
Assumption for fair value of the option granted | ' |
Expected term | '6 years 1 month 6 days |
Stock Options | Minimum | ' |
Assumption for fair value of the option granted | ' |
Term of U.S. Treasury yield used in determining risk-free rate | '5 years |
Stock Options | Maximum | ' |
Assumption for fair value of the option granted | ' |
Term of U.S. Treasury yield used in determining risk-free rate | '7 years |
Fair_Value_Measurement_Details
Fair Value Measurement (Details) (USD $) | 1 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 9 Months Ended | 9 Months Ended | |||||||||||||||||||||
Jan. 31, 2011 | Jan. 31, 2011 | Apr. 18, 2013 | Jan. 25, 2011 | Apr. 18, 2013 | Jan. 31, 2011 | Jan. 31, 2011 | Jan. 31, 2011 | Apr. 18, 2013 | Apr. 18, 2013 | Apr. 18, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | |
HCL-EMS | HCL-EMS | oneTEM | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Recurring basis | Recurring basis | Recurring basis | Recurring basis | Recurring basis | Recurring basis | Recurring basis | Recurring basis | Recurring basis | Recurring basis | Recurring basis | Recurring basis | Recurring basis | Recurring basis | Recurring basis | Recurring basis | |
Minimum | Maximum | item | HCL-EMS | oneTEM | Contingent consideration | Contingent consideration | Contingent consideration | Contingent consideration | Contingent consideration | Contingent consideration | Total | Total | Total | Total | Total | Total | Total | Level 1 | Level 1 | Level 1 | Level 1 | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | |
Income approach | Income approach | HCL-EMS | HCL-EMS | HCL-EMS | oneTEM | oneTEM | oneTEM | Contingent consideration | Contingent consideration | Contingent consideration | Money market institutional funds | Money market institutional funds | Money market institutional funds | Money market institutional funds | Contingent consideration | Contingent consideration | Contingent consideration | ||||||||||
Income approach | Income approach | Income approach | Income approach | Income approach | Income approach | HCL-EMS | HCL-EMS | oneTEM | HCL-EMS | HCL-EMS | oneTEM | ||||||||||||||||
Minimum | Maximum | Minimum | Maximum | ||||||||||||||||||||||||
Fair value measurement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $18,336,000 | $28,094,000 | ' | ' | $18,336,000 | $28,094,000 | ' | ' | ' | ' | ' |
Recognized amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 891,000 | 2,046,000 | -198,000 | ' | ' | ' | ' | ' | ' | ' | ' | 891,000 | 2,046,000 | -198,000 |
Total | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19,425,000 | 30,140,000 | ' | ' | ' | ' | ' | 18,336,000 | 28,094,000 | ' | ' | 1,089,000 | 2,046,000 | ' | ' | ' |
Percentage of specified revenues from specified customers acquired, used in determining contingent consideration | 7.50% | 15.00% | 9.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contingent consideration recognized | ' | ' | -183,000 | 3,400,000 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount rate assumption, used in determining contingent consideration (as a percent) | ' | ' | ' | ' | ' | 10.50% | ' | ' | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Probability adjusted levels of revenue assumption, used in determining contingent consideration | ' | ' | ' | ' | ' | ' | 12,600,000 | 13,900,000 | ' | 200,000 | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Changes in the fair value of the Level 3 liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, Beginning of Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,046,000 | ' | ' |
Initial earn-out consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 181,000 |
Imputed interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,000 | ' | 17,000 |
Cash payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,000,000 | ' | ' |
Second year earn-out adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -167,000 | ' | ' |
Balance, End of Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $891,000 | ' | $198,000 |
Number of anniversaries for which additional consideration payable following the closing date | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of consecutive 12-month earn-out period | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental_Cash_Flow_Informa2
Supplemental Cash Flow Information (Details) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ' | ' |
Cash paid for interest | $65 | $94 |
Cash paid for income tax payments | 345 | 284 |
NON-CASH TRANSACTIONS: | ' | ' |
Issuance of common stock in payment of board of director fees | ' | 20 |
Cashless exercise of warrants | ' | 479 |
Anomalous | ' | ' |
NON-CASH TRANSACTIONS: | ' | ' |
Deferred purchase price | ' | 950 |
ttMobiles | ' | ' |
NON-CASH TRANSACTIONS: | ' | ' |
Deferred purchase price | ' | 2,315 |
oneTEM | ' | ' |
NON-CASH TRANSACTIONS: | ' | ' |
Deferred purchase price | 616 | ' |
Symphony | ' | ' |
NON-CASH TRANSACTIONS: | ' | ' |
Deferred purchase price | ' | $10,942 |
Commitments_and_Contingencies_
Commitments and Contingencies (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Rent expense, included in general and administrative expense | ' | ' |
Rent expense | $4.20 | $3.60 |