Business Combinations Acquisition of Dynasty On January 7, 2019, we acquired 100% of the voting equity interest of Dynasty, a provider of advanced artificial intelligence ("AI") solutions for the real estate market. Dynasty offers advanced conversational AI solutions that automate leasing communications, replace manual tasks and help customers grow their portfolios. Dynastys technology is designed to enable operational efficiency in the leasing process including consistent prospect experience, lead conversion, and improved market insights. The total purchase consideration was $60.2 million , subject to certain adjustments, of which $6.0 million (the "Holdback Amount") was retained by the Company to satisfy any such adjustments, including without limitation certain indemnification claims. The balance of the Holdback Amount, less any amount retained (the Retained Amount) with respect to any unresolved indemnification claims (each, an Unresolved Claim), will be released to the stockholders of Dynasty, within three business days after the one-year anniversary of the Closing Date (the Holdback Release Date). If an Unresolved Claim is finally resolved after the Holdback Release Date, then, within three business days after the final resolution of such Unresolved Claim, the balance of the Retained Amount after satisfying such Unresolved Claim, less any amounts associated with all remaining Unresolved Claims, will be released to the stockholders of Dynasty. The Holdback Amount is recorded in other current liabilities on the Condensed Consolidated Balance Sheet as of June 30, 2019 . The transaction was accounted for using the acquisition method, and as a result, assets acquired and liabilities assumed were recorded at their estimated fair values as of the acquisition date. We are in the process of finalizing the valuation of the assets. Based on additional information obtained during the quarter ended June 30, 2019 , the initial fair value of backlog increased by $0.4 million and technology decreased by $1.7 million with a corresponding increase to goodwill. These changes did not have a material impact on amortization expense. The following table summarizes the preliminary purchase price allocation (in thousands) as well as the estimated useful lives of the acquired intangible assets over which they are amortized on a straight-line basis, as this approximates the pattern in which economic benefits are consumed: Amount (in thousands) Estimated Useful Life (in years) Total current assets $ 305 Identified intangible assets: Technology 5,730 4.0 Database 4,710 10.0 Customer relationships 1,110 5.0 Backlog 470 1.0 Trademark &amp; trade name 1,390 10.0 Non-compete agreement 7,340 5.0 Total intangible assets subject to amortization 20,750 6.0 Goodwill 42,970 Indefinite Other noncurrent assets 35 Total assets acquired 64,060 Accrued and other liabilities 48 Deferred tax liability, net 3,781 Total liabilities assumed 3,829 Purchase consideration $ 60,231 Goodwill is mainly attributable to synergies expected from the acquisition and assembled workforce and is non-deductible for U.S. federal income tax purposes. We incurred a total of $291,000 in transaction costs related to the acquisition and expensed all transaction costs incurred during the period in which such service was received. The results of operations of Dynasty since the acquisition are included in our Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2019 . Revenue and net loss attributable to Dynasty for the three months ended June 30, 2019 was $0.7 million and $2.2 million , respectively, and in the period from the acquisition date of January 7, 2019 through June 30, 2019 , was $1.2 million and $4.1 million , respectively. Acquisition of WegoWise On August 31, 2018, we completed the acquisition of substantially all of the assets of WegoWise, Inc. ("WegoWise"), a provider of cloud-based utility analytics software solutions serving the real estate market. The WegoWise platform empowers building owners and third-party property managers to better manage operating and capital expenditures relating to utilities, and we expect that the acquisition will provide enhanced functionality to our real estate customers over time, such as a future utility analytics and management Value+ services. The consideration paid in cash for the assets was $14.4 million , of which $2.0 million will be held in escrow for 12 months to satisfy WegoWises indemnity obligations. The transaction was accounted for using the acquisition method, and as a result, assets acquired and liabilities assumed were recorded at their estimated fair values as of the acquisition date. The following table summarizes the final purchase price allocation (in thousands) as well as the estimated useful lives of the acquired intangible assets over which they are amortized on a straight-line basis, as this approximates the pattern in which economic benefits are consumed: Amount (in thousands) Estimated Useful Life (in years) Net tangible assets $ 270 Identified intangible assets: Customer relationships 1,170 5.0 Database 3,620 10.0 Trademark and trade name 370 10.0 Non-compete agreement 60 5.0 Backlog 140 1.0 Total intangible assets subject to amortization 5,360 8.6 Goodwill 8,811 Indefinite Purchase consideration, paid in cash $ 14,441 Goodwill is mainly attributable to synergies expected from the acquisition and assembled workforce and is deductible for U.S. federal income tax purposes. We incurred a total of $240,000 in transaction costs related to the acquisition and expensed all transaction costs incurred during the period in which such service was received. Pro Forma Results of Acquisitions The following unaudited pro forma information has been prepared for illustrative purposes only, and assumes that the aforementioned Dynasty and WegoWise acquisitions occurred on January 1, 2018 and January 1, 2017, respectively, and includes pro forma adjustments related to the amortization of acquired intangible assets, elimination of historical interest and amortization expense, income taxes, compensation arrangements, and the transaction costs incurred. The unaudited pro forma results have been prepared based on estimates and assumptions, which we believe are reasonable; however, they are not necessarily indicative of the consolidated results of operations had the acquisitions occurred at the beginning of the periods presented, or of future results of operations. The unaudited pro forma results are as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Revenue $ 63,624 $ 48,550 $ 120,750 $ 91,608 Net income $ 23,479 $ 3,971 $ 22,933 $ 8,769 Net income per common share: Basic $ 0.69 $ 0.12 $ 0.68 $ 0.26 Diluted $ 0.66 $ 0.11 $ 0.65 $ 0.25