Annual report pursuant to Section 13 and 15(d)

Note 3 - Business Combinations (Tables)

v3.24.1.u1
Note 3 - Business Combinations (Tables)
12 Months Ended
Jan. 31, 2024
Notes Tables  
Schedule of Business Acquisitions, by Acquisition [Table Text Block]

Description

 

Amount

 

Class A common stock issued

  $ 258,000  

Class B common stock issued *

    48,375  

Cash payments

    505,000  

Second Out Term Loan

    20,000  

Cash settlement of seller transaction costs

    1,308  

Total purchase price

  $ 832,683  

Description

 

Amount

 

Cash consideration

  $ 170,199  

Warrants issued

    14,000  

Additional Term Loans issued

    70,000  

Cash settlement of seller transaction costs

    4,251  

Total purchase price

  $ 258,450  

Description

 

Amount

 

Cash payments

  $ 202,119  

Class A common stock issued

    182,550  

Cash settlement of seller transaction costs and other

    1,315  

Total purchase price

  $ 385,984  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]
                       
   

Preliminary Purchase

           

Final Purchase

 

Description

 

Price Allocation

   

Adjustments (1)(2)

   

Price Allocation

 

Cash, cash equivalents and restricted cash

  $ 120,273     $     $ 120,273  

Current assets

    118,847       706       119,553  

Property and equipment

    10,825       1,632       12,457  

Intangible assets

    769,799       (4,701 )     765,098  

Long term assets

    18,629             18,629  

Total assets acquired

    1,038,373       (2,363 )     1,036,010  

Current liabilities

    (49,056 )     (350 )     (49,406 )

Debt, including accounts receivable facility

    (552,977 )           (552,977 )

Deferred revenue

    (123,300 )     (114,047 )     (237,347 )

Deferred and other tax liabilities

    (99,699 )     15,920       (83,779 )

Long term liabilities

    (18,325 )     1       (18,324 )

Total liabilities assumed

    (843,357 )     (98,476 )     (941,833 )

Net assets acquired

    195,016       (100,839 )     94,177  

Goodwill

    637,667       100,839       738,506  

Total purchase price

  $ 832,683     $     $ 832,683  
                       
   

Preliminary Purchase

           

Final Purchase

 

Description

 

Price Allocation

   

Adjustments (1)(2)

   

Price Allocation

 

Cash, cash equivalents

  $ 17,524     $ (100 )   $ 17,424  

Current assets

    47,849       (2,442 )     45,407  

Property and equipment

    5,531       1,625       7,156  

Intangible assets

    185,800             185,800  

Long term assets

    12,401       (3,325 )     9,076  

Total assets acquired

    269,105       (4,242 )     264,863  

Current liabilities

    (74,463 )     10,910       (63,553 )

Deferred revenue

    (23,018 )     (8,191 )     (31,209 )

Deferred and other tax liabilities

    (16,934 )     (6,162 )     (23,096 )

Long term liabilities

    (4,248 )     2,168       (2,080 )

Total liabilities assumed

    (118,663 )     (1,275 )     (119,938 )

Net assets acquired

    150,442       (5,517 )     144,925  

Goodwill

    108,008       5,517       113,525  

Total purchase price

  $ 258,450     $     $ 258,450  
   

Final Purchase

 

Description

 

Price Allocation

 

Cash, cash equivalents and restricted cash

  $ 4,053  

Current assets

    3,671  

Property and equipment

    385  

Intangible assets

    119,000  

Total assets acquired

    127,109  

Current liabilities

    (6,166 )

Deferred revenue

    (18,396 )

Deferred tax liabilities

    (21,621 )

Total liabilities assumed

    (46,183 )

Net assets acquired

    80,926  

Goodwill

    305,058  

Total purchase price

  $ 385,984  
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

Description

 

Amount

   

Life (in years)

 

Trademark/tradename – Skillsoft

  $ 84,700    

indefinite

 

Trademark/tradename – SumTotal

    5,800       9.6  

Courseware

    186,600       5  

Proprietary delivery and development software

    114,598       2.5 - 7.6  

Publishing Rights

    41,100       5  

Customer relationships

    271,400       12.6  

Backlog

    60,900       4.6  

Total

  $ 765,098          

Description

 

Amount

   

Life (in years)

 

Trademark/tradename

  $ 25,400       17.6  

Courseware

    1,500       3  

Proprietary delivery and development software

    2,500       0.6  

Vendor relationships

    43,900       2.6  

Customer relationships

    112,700       10.6  

Total

  $ 186,000          

Description

 

Amount

   

Life (in years)

 

Trade name

  $ 44,000       13.8  

Developed technology

    43,000       5.0  

Content

    17,000       5.0  

Customer relationships

    15,000       5.8  

Total

  $ 119,000          
Business Acquisition, Pro Forma Information [Table Text Block]
    Unaudited Pro Forma  
    Statements of Operations  
    Twelve Months Ended January 31,  
   

2023

   

2022

 

Revenue

  $ 563,182     $ 587,999  

Net loss from continuing operations

    (153,640 )     (129,774 )