6. BUSINESS ACQUISITION On October 1, 2010, the Company completed the acquisition of Tinet. The total cash paid for the acquisition was $103.1 million, comprised of $77.4 million, in cash, paid on October 1, 2010 for the outstanding shares of Tinet's capital stock, repayment of $31.1 million of Tinet's debt as part of the closing and $5.4 million in cash acquired. In addition to the cash, the Company recorded approximately $4.0 million for acquisition-related costs, including legal, accounting and advisory services in its statement of income under general and administrative expenses. Tinet is a global carrier exclusively committed to the IP and Ethernet wholesale market which provides global IP transit and Ethernet connectively to carriers, service providers and content providers worldwide. With this acquisition, the Company evolved from a primarily U.S. voice interconnection company into a global IP-based network services company focused on delivering global connectivity for a variety of media, including voice, data and video. These factors contributed to the goodwill recognized. The allocation of the purchase price is preliminary, based on initial accounting of the assets acquired and liabilities assumed at their respective estimated fair vales on the acquisition date of October 1, 2010. The final allocation of the purchase price may result in adjustments to the recognized amounts of intangible assets and deferred taxes, which could be significant. The preliminary allocation based on management's best estimate is as follows: (Dollars in thousands) Current assets $ 15,336 Fixed assets 28,500 Customer relationships 32,973 Noncurrent assets 3,102 Current liabilities (20,471 ) Deferred tax liability (5,805 ) Noncurrent liabilities (967 ) Goodwill 50,476 Total cash paid for acquisition $ 103,144 The $33.0 million of acquired intangible assets relates to the customer relationships that will be amortized over their estimated useful life of 15 years. Goodwill is not expected to be deductible for tax purposes. Supplemen