Note 8. Business Acquisitions On October 3, 2018, the Company acquired certain technology, referred to as HunchLab, and related assets from Azavea Inc. The acquisition provides an opportunity to increase the Companys revenue per customer with a related and value-added technology that helps deter crime through strategically planned patrol missions. The purchase consideration totaled $2.5 million, consisting of $1.7 million in cash and a contingent earnout payable in cash for up to $750,000 based on HunchLabs revenues generated over the three-year period following the acquisition date. The Company determined the acquisition-date fair value of the contingent consideration liability based on the likelihood of meeting revenues forecasts. The following table presents the purchase price allocation (in thousands): Accounts receivable $ 114 Prepaid expense 4 Deferred revenue, short term (120 ) Accounts payable (26 ) Software technology 950 Customer relationships 160 Goodwill 1,379 Total purchase consideration $ 2,461 Goodwill primarily represents the value of cash flows from future customers. The Company expects to deduct goodwill and identifiable technology and intangible assets for tax purposes, a portion of which will commence upon settlement of contingent consideration and contingent liabilities. The following table presents the components of the identifiable technology and intangible assets and the estimated useful lives (in thousands): Fair Value Useful Life Software technology $ 950 5 years Customer relationships 160 7 years Total identifiable technology and intangible assets $ 1,110 The Company valued customer relationships and the software technology using the income approach. Significant assumptions include forecasts of revenues, cost of revenues, research and development expense, sales and marketing expense, general and administrative expense and estimated customer attrition rates. The Company discounted the cash flows at 25.5%, reflecting the risk profile of the assets. Acquisition-related expenses totaled $0.2 million, which were included in general and administrative expense for the year ended December 31, 2018. The Company has not presented separate results of operations since closing or combined pro forma financial information of the Company and HunchLab since the beginning of fiscal 2017, as results of operations for HunchLab are immaterial.