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This excerpt taken from the EBAY 10-K filed Feb 17, 2010. Bill Me Later, Inc. On November 7, 2008 we acquired all the outstanding shares of Bill Me Later, Inc. (Bill Me Later) for a total purchase price of approximately $914.6 million. Our allocation of the purchase price is summarized below (in thousands):
Purchased identifiable intangible assets are amortized on a straight-line basis over the respective useful lives. Our estimated useful life of the identifiable intangible assets acquired is three years for the developed technology and five years for the trade name and user base. The results of operations of Bill Me Later for periods prior to our acquisition were not material to our consolidated statement of income and, accordingly, pro forma results of operations have not been presented. These excerpts taken from the EBAY 10-K filed Feb 20, 2009. Bill Me
Later, Inc.
On November 7, 2008 we acquired all the outstanding shares
of Bill Me Later, Inc. (Bill Me Later) for a total purchase
price of approximately $914.6 million. The purchase price
consisted of cash totaling $817.0 million,
$9.9 million in estimated acquisition-related expenses and
the assumption of Bill Me Later’s outstanding common stock
options, valued at approximately $87.7 million. The fair
value of Bill Me Later’s stock options assumed was
determined using a Black-Scholes model. Bill Me Later is a
payments solution company that provides transactional credit at
the point of sale for ecommerce transactions and is included in
our Payments segment. Bill Me Later’s service combines
authentication, credit origination, funding, fulfillment,
settlement, reporting and customer care into a single managed
solution integrated into a merchant’s existing payment
platform. The rationale for acquiring Bill Me Later is to
enhance our leadership position in online payment solutions.
The purchase price was allocated to the tangible assets and
intangible assets acquired and liabilities assumed based on
their estimated fair values on the acquisition date. The fair
value assigned to identifiable intangible assets acquired is
determined using the income approach, which discounts expected
future cash flows to present value using estimates and
assumptions determined by management. Purchased identifiable
intangible assets are amortized on a straight-line basis over
the respective useful lives. Our preliminary allocation of the
purchase price is summarized below (in thousands):
Our estimated useful life of the identifiable intangible assets
acquired is three years for the developed technology and five
years for the trade name and user base. The allocation of the
purchase price for the acquisition has been prepared on a
preliminary basis and changes to that allocation may occur as
additional information becomes available.
The results of operations of Bill Me Later for periods prior to
our acquisition were not material to our consolidated statement
of income and, accordingly, pro forma results of operations have
not been presented.
Bill Me Later, Inc. On November 7, 2008 we acquired all the outstanding shares of Bill Me Later, Inc. (Bill Me Later) for a total purchase price of approximately $914.6 million. The purchase price consisted of cash totaling $817.0 million, $9.9 million in estimated acquisition-related expenses and the assumption of Bill Me Later’s outstanding common stock options, valued at approximately $87.7 million. The fair value of Bill Me Later’s stock options assumed was determined using a Black-Scholes model. Bill Me Later is a payments solution company that provides transactional credit at the point of sale for ecommerce transactions and is included in our Payments segment. Bill Me Later’s service combines authentication, credit origination, funding, fulfillment, settlement, reporting and customer care into a single managed solution integrated into a merchant’s existing payment platform. The rationale for acquiring Bill Me Later is to enhance our leadership position in online payment solutions. The purchase price was allocated to the tangible assets and intangible assets acquired and liabilities assumed based on their estimated fair values on the acquisition date. The fair value assigned to identifiable intangible assets acquired is determined using the income approach, which discounts expected future cash flows to present value using estimates and assumptions determined by management. Purchased identifiable intangible assets are amortized on a straight-line basis over the respective useful lives. Our preliminary allocation of the purchase price is summarized below (in thousands):
Our estimated useful life of the identifiable intangible assets acquired is three years for the developed technology and five years for the trade name and user base. The allocation of the purchase price for the acquisition has been prepared on a preliminary basis and changes to that allocation may occur as additional information becomes available. The results of operations of Bill Me Later for periods prior to our acquisition were not material to our consolidated statement of income and, accordingly, pro forma results of operations have not been presented. | EXCERPTS ON THIS PAGE:
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