9. Business Acquisition: On January 16, 2012, the Company acquired 100% of the equity interest in MHH. The transaction was completed in cash at a price of £33.5 million (approximately $51.3 million). The Company financed the acquisition with borrowings under its existing line of credit. Based in Kilmarnock, Scotland, MHH employs approximately 170 people and offers outsourced and contingent consumer debt recovery on behalf of banks, credit providers and debt purchasers, as well as distressed and dormant niche portfolio purchasing. The acquisition of MHH expands the Company s presence into new geographical markets outside the United States, further diversifying its revenues and available service offerings. The Company accounted for this purchase in accordance with ASC Topic 805,  Business Combinations.  Under this guidance, an entity is required to recognize the assets acquired, liabilities assumed and the consideration given at their fair value on the acquisition date. The following tables summarize the fair value of the consideration given for MHH, as well as the preliminary fair value of the assets acquired and liabilities assumed related to the acquisition. Recognized amounts of identifiable assets and liabilities are as follows (amounts in thousands): Purchase price $ 51,258 Cash (2,605 ) Finance receivables, net (3,906 ) Accounts receivable (2,038 ) Prepaid expenses (included in other assets) (330 ) Customer relationships (8,875 ) Non-compete agreements (612 ) Trademarks (918 ) Fixed assets (814 ) Accounts payable 3,500 Accrued expenses 1,461 Income tax payable 1,209 Goodwill $ 37,330 The Company is evaluating the purchase price allocations and at the time of the filing of this Form 10-Q, the valuation has not been completed. However, the Company has recorded provisional amounts for the assets acquired in its consolidated financial statements and will adjust the allocations relative to the fair value of the assets, as necessary, during the remainder of the one-year measurement period.