NOTE 3. BUSINESS COMBINATIONS Acquisitions in Fiscal Year 2014 On September 5, 2014, the Company acquired X Plus Two Solutions, Inc., a Delaware corporation (X Plus Two), which wholly owned X Plus One Solutions, Inc. known in the industry as [x+1] ("[x+1]"). Management believed the acquisition of [x+1] would significantly expand the market opportunity and help accelerate the Companys entry into the digital marketing enterprise software-as-a-service ("SaaS") market. The total purchase consideration was as follows (in thousands): Purchase consideration: Cash $ 98,045 Fair value of 5.3 million shares common stock transferred 82,421 Total purchase price $ 180,466 The acquisition of [x+1] was accounted for in accordance with the acquisition method of accounting for business combinations with the Company as the accounting acquiror. The Company expensed the acquisition-related transaction costs in the amount of $4.9 million in general and administrative expenses. The total purchase price was allocated as follows (in thousands): Current assets $ 29,853 Non-current assets 3,999 Current liabilities (29,354 ) Non-current liabilities (16,253 ) Net acquired tangible assets (11,755 ) Identifiable intangible assets 74,700 Goodwill 117,521 Total purchase price $ 180,466 Due to a stock price decline during the third quarter of 2015, the Companys market capitalization declined to a value below the net book value of the Companys equity, triggering the Company to conduct a goodwill impairment test. The outcome of the goodwill impairment test resulted in a non-cash impairment of goodwill of $ 117.5 million , which was recorded in the third quarter of 2015. Identifiable intangible assets acquired are as follows: March 31, 2017 December 31, 2016 Estimated Useful Life (in years) Gross Accumulated Amortization Net Book Value Gross Accumulated Amortization Net Book Value Developed technology 3-4 $ 42,100 $ (29,784 ) $ 12,316 $ 42,100 $ (26,887 ) $ 15,213 Customer relationships 7-8 27,700 (8,906 ) 18,794 27,700 (8,039 ) 19,661 Tradema