Business Acquisition On January 14, 2019, the Company acquired the equity interests of Connect First, Inc. (Connect First), a cloud-based outbound/blended customer engagement platform for midsize and enterprise companies. The acquisition complements the Companys current Customer Engagement portfolio to provide differentiated customer experiences. The total purchase price of approximately $36.4 million consisted of cash of $29.3 million and $7.1 million held to cover indemnity claims made by the Company after the closing date. In connection with the acquisition, the Company granted $4.0 million in restricted stock units, which will vest over four years. The preliminary allocation of the purchase price of the assets acquired and liabilities assumed based on their estimated fair values was as follows (in thousands): Cash and cash equivalents $ 1,427 Other tangible assets acquired 2,266 Acquired intangible assets 13,300 Goodwill 24,465 Total assets acquired 41,458 Liabilities assumed (5,013 ) Total consideration $ 36,445 The amortizable intangible assets have a weighted average useful life of three years . The purchase price exceeded the estimated fair value of the tangible and identifiable intangible assets and liabilities acquired and, as a result of the allocation, the Company recorded goodwill of $24.5 million , which is no t deductible for tax purposes. The goodwill recognized is attributable primarily to contributions of the entity's technology to the overall corporate strategy, enhancements to the Company's contact center product offerings, and assembled workforce of the acquired business.