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 owns X Plus One Solutions, Inc. known in the industry as [x+1] ("[x+1]"). The acquisition of [x+1] significantly expanded the market opportunity and accelerated the Companys entry into the digital marketing enterprise software-as-a-service ("SaaS") market. The total purchase consideration is 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 as shown in the table above was allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values as of September 5, 2014, as set forth below. The Company finalized its estimates of fair value for certain of the acquired current assets and liabilities resulting in an adjustment of $2.1 million which was recorded during the three months ended September 30, 2015. 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