6. Acquisition: On April 30, 2020, pursuant to a Stock Purchase Agreement dated April 20, 2020, CLIMB Channel Solutions (Canada) Inc. (Buyer), a newly-formed indirect subsidiary of the Company completed the purchase of Interwork Technologies Inc., a Delaware corporation (Interwork US) and Interwork Technologies Inc., a corporation incorporated under the laws of the Province of Ontario, Canada (Interwork Canada). Buyer acquired Interwork US and Interwork Canada for an aggregate purchase price of $5 million Canadian dollar (equivalent to $3.6 million USD), subject to certain working capital adjustments, paid at closing plus a potential post-closing $1.1 million Canadian dollar (equivalent to $0.8 million USD) earn-out. The allocation of the purchase price was based upon the estimated fair value of Interwork US and Interwork Canadas net tangible and identifiable intangible assets as of the date of the acquisition. The transaction was accounted for under the purchase method of accounting. The Company incurred acquisition related costs of approximately $0.2 million and $0.6 million during the three and six months ended June 30, 2020, respectively. These expenses relate to costs incurred in conjunction with the acquisition of Interwork US and Interwork Canada and are reflected in the accompanying three and six months ended June 30, 2020 Condensed Consolidated Statements of Earnings. The financial position and operating results of Interwork US and Interwork Canada are included in the Companys condensed consolidated financial statements from the date of acquisition. The Company recorded net revenue for Interwork US and Interwork Canada of approximately $3.7 million during the three months ended June 30, 2020. The impact of the acquisitions preliminary purchase price allocations on the Companys consolidated balance sheet and the acquisition date fair value of the total consideration transferred were as follows. The Company is in the process of obtaining third-party valuations of certain intangible assets; thus the provisional measurements of intangible assets, goodwill and deferred income taxes are subject to change: (in thousands) Cash $ 1,009 Trade accounts receivable 9,534 Other current assets 628 Intangible assets Vendor relationships (14-year weighted average useful life) 3,797 Non-compete (1-year useful life) 8 Goodwill 3,857 Other assets 117 Accounts payable and other current liabilities (15,051) Deferred income tax liabilities (389) Taxes payable (600) Net assets $ 2,910 (in thousands) Supplementary information: Cash paid to sellers $ 2,150 Contingent earn-out 760 Total purchase consideration $ 2,910 Cash paid to sellers 2,150 Cash acquired in acquisition (1,009) Net cash paid for acquisition $ 1,141 Intangible assets are comprised of approximately $3.8 million of vendor relationships with a weighted average amortization period of 13.7 years, representing the expected period of benefits, of which $2.3 million is deductible for Canadian income tax purposes. Goodwill, which was allocated to the Climb Channel Solutions segment, is the excess of the consideration transferred over the net assets recognized and represents the expected revenue and cost synergies of the combined company and assembled workforce. Goodwill recognized as a result of the acquisition is not deductible for income tax purposes. The purchase consideration includes approximately $0.8 million of potential earn-out consideration if certain targets are achieved, payable in cash. As of June 30, 2020, the Company reassessed the earn-out liability and determined the amount is unchanged from the acquisition date. The earn-out liability is included in non-current liabilities as of June 30, 2020. The preliminary allocation of the purchase price for the acquisition was allocated based on information that is currently available. The Company's estimates and assumptions underlying the initial allocations is subject to the collection of information necessary to complete its allocations within the measurement period, which is up to one year from the acquisition date.