3. Acquisitions ? During fiscal 2018, the Company completed two acquisitions. The first acquisition, completed August 31, 2017 (the second quarter of fiscal 2018), was of taskforce  Management on Demand AG (taskforce) , a German based professional services firm founded in 2007, that provided clients with senior interim management and project management expertise. Subsequent to the acquisition, taskforce continues to operate as a separate brand. The Company paid initial consideration of 5.8 million (approximately $6.9 million at the date of acquisition) in a combination of cash and restricted stock. ? The following table summarizes the consideration for the acquisition of taskforce and the amounts of the identified assets acquired and liabilities assumed at the acquisition date: Fair Value of Consideration Transferred (in thousands, except share and per share amounts): ? ? ? ? ? ? Cash $ 4,384 ? Working capital adjustment -receivable (123) ? Common stock - 226,628 shares @ $11.48 (closing price on acquisition date discounted for restriction on sale) 2,602 ? Estimated initial contingent consideration 6,514 ? Total $ 13,377 ? Recognized amounts of identifiable assets acquired and liabilities assumed (in thousands): ? ? ? ? Cash and cash equivalents $ 974 ? Accounts receivable 1,930 ? Prepaid expenses and other current assets 45 ? Intangible assets 5,727 ? Property and equipment 39 ? Total identifiable assets 8,715 ? Accounts payable and accrued expenses 2,116 ? Accrued salaries and related obligations 16 ? Other current liabilities 140 ? Total liabilities assumed 2,272 ? Net identifiable assets acquired 6,443 ? Deferred tax liability (1,815) ? Goodwill 8,749 ? Net assets acquired $ 13,377 ? ? In addition, the purchase agreement for taskforce requires additional earn-out payments to be made based on performance in calendar years 2017, 2018 and 2019. Under accounting rules for business combinations, obligations that are contingently payable to the sellers based upon the occurrence of one or more future events are recorded as a discounted liability on the Companys balance sheet. The Company was obligated to pay the sellers in Euros as follows: for calendar year 2017, Adjusted EBITDA times 6.1 times 20% ; and for both calendar years 2018 and 2019, Adjusted EBITDA times 6.1 times 15% ; (Adjusted EBITDA is calculated as defined in the purchase agreement). The payment for calendar year 2017 of 2.1 million (approximately $2.6 million) was made on March 28, 2018. The payment for calendar year 2018 of 1.6 million (approximately $1.9 million) was made on March 27, 2019. The Company estimated the fair value of the obligation to pay the remaining contingent consideration for calendar year 2019 based on a number of different projections of the estimated Adjusted EBITDA for the year. The Company recorded this future obligation using a discount rate of approximately 11.0% , representing the Companys weighted average cost of capital. The current estimated fair value of the contractual obligation to pay the contingent consideration for calendar year 2019 totals 2.0 million (approximately $2.2 million based on the exchange rate on the last day of fiscal 2019) as of May 25, 2019 . Each reporting period, the Company will estimate changes in the fair value of contingent consideration and any change in fair value will be recognized in the Companys Consolidated Statements of Operations. The estimate of fair value of contingent consideration requires very subjective assumptions to be made of various potential Adjusted EBITDA results and discount rates. Future revisions to these assumptions could materially change the estimate of the fair value of contingent consideration and therefore could materially affect the Companys future operating results. During the year ended May 25, 2019 , the Company decreased the remaining estimated contingent consideration for calendar year 2019 by 523,000 ( $590,000 ) and also recognized accretion expense on the discounted liability. These amounts are included in S, G &amp; A for the respective periods. Results of operations of taskforce are included in the Consolidated Statements of Operations from the date of acquisition. ? The second acquisition occurred December 4, 2017 (the third quarter of fiscal 2018) when the Company acquired substantially all of the assets and assumed certain liabilities of Accretive Solutions, Inc. (Accretive). Accretive was a professional services firm that provided expertise in accounting and finance, enterprise governance, business technology and business transformation solutions to a wide variety of organizations in the U.S. and supported startups through its Countsy suite of back office services. The Company paid consideration of $20.0 million in cash and issued 1,072,000 shares of Resources Connection, Inc. common stock restricted for sale for four years; additional cash and shares of Company common stock will be due after settlement of working capital adjustments. Further , additional amounts may be paid to the sellers at the end of a certain period of time if there are no claims or may be used to satisfy any preacquisition claims in favor of the buyers. As of the end of fiscal 2019, the amounts due based on initial estimates of the resolution of these items are $0.1 million in cash and 108,000 in additional shares of common stock and are accrued as a liability on the balance sheet as of May 25, 2019 . The following table summarizes the consideration paid for Accretive and the amounts of the identified assets acquired and liabilities assumed at the acquisition date: ? ? ? ? Cash $ 20,047 ? Common stock - 1,072,474 shares @ $10.96 (closing price on acquisition date discounted for restriction on sale) 11,754 ? Total $ 31,801 ? Recognized amounts of identifiable assets acquired and liabilities assumed (in thousands): ? ? ? ? Accounts receivable $ 11,360 ? Prepaid expenses and other current assets 1,084 ? Intangible assets 15,200 ? Property and equipment 979 ? Total identifiable assets 28,623 ? Accounts payable and accrued expenses 3,637 ? Accrued salaries and related obligations 4,562 ? Other current liabilities 148 ? Total liabilities assumed 8,347 ? Net identifiable assets acquired 20,276 ? Goodwill 11,525 ? Net assets acquired $ 31,801 ?