4. ACQUISITIONS Merger with M3 Wireless, Ltd. On May 2, 2011, the Company completed the merger of its Bermuda wireless operations, Bermuda Digital Communications, Ltd. ( BDC ), with that of M3 Wireless, Ltd. ( M3 ), a wireless provider in Bermuda (the  CellOne Merger ). As part of the CellOne Merger, M3 merged with and into BDC, and the combined entity will continue to operate under BDC s CellOne brand. As a result of the CellOne Merger, the Company s 58% ownership interest in BDC was reduced to a controlling 42% interest in the combined entity. Since the Company has the right to designate the majority of seats on the combined entity s board of directors and therefore controls its management and policies, the Company has consolidated the results of the combined entity in its consolidated financial statements effective on the date of the CellOne Merger. The CellOne Merger was accounted for using the purchase method and M3 s results of operations since May 2, 2011 have been included in the Company s Island Wireless segment as reported in Note 10. The total consideration of the CellOne Merger was allocated to the assets acquired and liabilities assumed at their estimated fair values as of the date of the CellOne Merger as determined by management. The consideration paid for M3 was determined based on the estimated fair value of the equity of M3. The table below represents the assignment of the total consideration to the tangible and intangible assets and liabilities of M3 based on their merger date fair values (in thousands) noting that Bermuda is a non-taxable jurisdiction: Total consideration $ 6,655 Purchase price allocation: Net working capital $ 675 Property, plant and equipment 10,577 Customer relationships 2,600 Telecommunications licenses 6,100 Goodwill 3,105 Note payable-affiliate (see Note 7) (7,012 ) Other long term liabilities (200 ) Non-controlling interests (9,190 ) Net assets acquired $ 6,655 The amortization period of the customer relationships is 12.0 years. The value of the goodwill from the CellOn