ACQUISITIONS Continuum  On March 15, 2018 , the Company acquired all of the outstanding equity of Continuum Innovation LLC together with its subsidiaries (Continuum) to enhance the Companys consulting capabilities as well as its digital and service design practices. Continuum, headquartered in Boston with offices located in Milan, Seoul, and Shanghai, focuses on four practices including strategy, physical and digital design, technology and its Made Real Lab. The acquisition of Continuum added approximately 125 design consultants to the Companys headcount. In connection with the Continuum acquisition, the Company paid $52,515 of cash. Furthermore, subject to attainment of specified performance targets in the 12 months after the acquisition, the Company will make a cash earnout payment with a maximum amount payable of $3,135 . The Company recorded $2,400 related to this earnout payment as contingent consideration as of the acquisition date. During the third quarter of 2018, the Company recorded a $900 reduction to the fair value of the contingent consideration. Think  On November 1, 2018 , the Company acquired all of the equity interests of Think Limited (Think), a digital transformation agency headquartered in London, UK. This acquisition is intended to strengthen EPAMs digital and organizational consulting capabilities in the UK and Western European markets and enhance the Companys global product and design offerings. In connection with the Think acquisition, the Company paid $26,254 of cash. Furthermore, subject to attainment of specified performance targets in the 12 months after the acquisition, the Company will make a cash earnout payment with a maximum amount payable of $8,156 . The Company recorded $5,990 related to this earnout payment as contingent consideration as of the acquisition date. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the dates of acquisition as updated for any changes as of March 31, 2019: Continuum Think As of March 15, 2018 As of November 1, 2018 Cash and cash equivalents $ 2,251 $ 2,344 Accounts receivable 6,676 2,259 Unbilled revenues 2,463 284 Prepaid and other current assets 936 609 Goodwill 26,617 22,482 Intangible assets 14,450 6,882 Property and equipment and other noncurrent assets 8,902 642 Total assets acquired $ 62,295 $ 35,502 Accounts payable, accrued expenses and other current liabilities $ 2,745 $ 2,205 Due to employees 1,001 13 Long-term debt 3,220  Other noncurrent liabilities 490 1,040 Total liabilities assumed $ 7,456 $ 3,258 Net assets acquired $ 54,839 $ 32,244 During the first quarter of 2019, there were no adjustments recorded related to the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition. During the first quarter of 2019, the Company finalized the fair value of the assets acquired and liabilities assumed in the acquisition of Continuum. The Company adjusted initially recognized intangible assets and their useful lives as well as recognized an additional intangible asset in the form of a favorable lease and removed a noncurrent liability associated with an initially recognized unfavorable lease. The Company also finalized a working capital adjustment that resulted in cash collection in the amount of $76 reducing the original amount of the net assets acquired. These adjustments and a revaluation of contingent consideration resulted in a corresponding decrease to the originally recognized value of acquired goodwill. For Think, estimated fair values of the assets acquired and liabilities assumed remain provisional and based on the information that was available as of the acquisition date. The Company expects to complete the purchase price allocations as soon as practicable but no later than one year from the acquisition date. As of March 31, 2019 , the following table presents the estimated fair values and useful lives of intangible assets acquired from Continuum and Think: Continuum Think Weighted Average Useful Life (in years) Amount Weighted Average Useful Life (in years) Amount Customer relationships 6.5 $ 5,800 7 $ 6,117 Favorable lease 11.2 5,500   Contract royalties 8 1,900   Trade names 5 1,250 5 765 Total $ 14,450 $ 6,882 In connection with the adoption of Topic 842, effective January 1, 2019, the Company reclassified the favorable lease intangible asset to Operating lease right-of-use assets. The goodwill recognized as a result of the acquisitions is attributable primarily to strategic and synergistic opportunities related to the consulting and design businesses, the assembled workforces acquired and other factors. The goodwill acquired as a result of the Continuum acquisition is expected to be deductible for income tax purposes while the goodwill acquired as a result of the Think acquisition is not expected to be deductible for income tax purposes. Revenues generated by Continuum and Think totaled $6,754 and $3,832 , respectively during the three months ended March 31, 2019 . Pro forma results of operations have not been presented because the effect of the Continuum and Think acquisition on the Companys condensed consolidated financial statements was not material individually or in the aggregate.