Acquisitions and Dispositions Acquisition of NewVoiceMedia On October 31, 2018, the Company acquired 100% of the issued and outstanding shares of NVM, a cloud CCaaS provider, for a purchase price of $350,179 paid in cash. NVM is a private limited company organized under the laws of England &amp; Wales. Adding NVM's contact center solutions to its existing suite of products will enable the Company to offer a full array of cloud business communications solutions delivered through owned technology. The acquisition was recorded as a business combination under ASC 805, with identifiable assets acquired and liabilities assumed provisionally recorded at their estimated fair value on the acquisition date. The accounting for the business combination was completed as of October 31, 2019, at which point the fair values became final. Under the terms of the offer, NVM shareholders received cash in the amount of approximately $341 million (approximately 260 million based on a 1.31335 GBP to USD exchange rate as of September 18, 2018) shortly after completion of the offer and the Company paid transactions costs incurred by NVM of approximately $9 million on the date of the acquisition. The table below summarizes the NVM assets acquired and liabilities assumed as of October 31, 2018: Preliminary Acquisition Date Fair Value as of December 31, 2018 Measurement Period Adjustments Final Acquisition Date Fair Value Assets Cash and cash equivalents $ 1,994 $ 1,994 Accounts receivable 13,747 (1,448 ) $ 12,299 Other current assets 3,907 (565 ) $ 3,342 Property and equipment 3,474 $ 3,474 Intangible assets 154,300 $ 154,300 Other assets 378 $ 378 Total assets acquired 177,800 (2,013 ) 175,787 Liabilities Accounts payable 4,712 4,712 Accrued expenses 4,145 333 4,478 Deferred tax liabilities 7,756 (598 ) 7,158 Deferred revenue 22,000 800 22,800 Total liabilities assumed 38,613 535 39,148 Net identifiable assets acquired 139,187 (2,548 ) 136,639 Goodwill 210,992 2,548 213,540 Total purchase price $ 350,179 $  $ 350,179 The fair values of intangible assets at the acquisition date were measured primarily based on significant inputs that are not observable in the market and thus represent a Level 3 measurement as defined in ASC 820. The fair values of the trade name, customer relationships and developed technology were determined utilizing variations of the income approach where the expected future cash flows resulting from the acquired identifiable intangible assets were reduced by operating costs and charges for contributory assets and then discounted to present value at the weighted average cost of capital. The Company recorded goodwill of $213,540 which is attributable to the Business segment and is not deductible for tax purposes. The factors that resulted in goodwill arising from the acquisition include the revenues and synergies anticipated with the ability to provide a contact center solution to our existing suite of cloud communication services along with a skilled workforce proficient in API development. The Company also recorded intangible assets of $154.3 million comprised of trade name of $5.3 million , customer relationships of $87 million , and developed technology of $62 million . In addition, the Company incurred and expensed acquisition related transaction costs included in general and administrative expense related to the acquisition of NVM of $253 and $9,627 for the years ended December 31, 2019 and 2018, respectively. Supplemental Pro Forma Information (unaudited) The following supplemental pro forma information represents the results of operations if Vonage had acquired NVM on January 1, 2018. For the year ended December 31, 2018 Revenue $ 1,105,674 Net loss (17,475 ) Loss per share - basic (0.07 ) Loss per share - diluted (0.07 ) The pro forma information has been adjusted to include the pro-forma impact of amortization of intangible assets based on the purchase price allocations. The pro forma data has also been adjusted to eliminate non-recurring transaction costs as well as the related tax impact of pro forma adjustments. There were no transactions between Vonage and NVM. The pro forma results are presented for illustrative purposes only and do not reflect the realization of potential cost savings or any related integration costs. Acquisition of TokBox On August 1, 2018, the Company acquired 100% of the issued and outstanding shares of TokBox for a purchase price of $32,906 paid in cash. San Francisco-based TokBox develops and operates the OpenTok Platform and is a provider in the WebRTC programmable video segment of the cloud communications market which will compliment the Company's existing portfolio of programmable communications. The acquisition was recorded as a business combination under ASC 805, with identifiable assets acquired and liabilities assumed provisionally recorded at their estimated fair value on the acquisition date. The accounting for the business combination was completed as of June 30, 2019, at which point the fair values became final. The table below summarizes the TokBox assets acquired and liabilities assumed as of August 1, 2018: Acquisition Date Fair Value Assets Cash and cash equivalents $ 557 Current assets 2,205 Property and equipment 124 Intangible assets 15,602 Deferred tax asset 92 Restricted cash 50 Total assets acquired 18,630 Liabilities Accounts payable 371 Accrued expenses 6,003 Total liabilities assumed 6,374 Net identifiable assets acquired 12,256 Goodwill 20,650 Total purchase price $ 32,906 The Company recorded goodwill of $20,650 which is attributable to the Business segment and is deductible for tax purposes. The factors that resulted in goodwill arising from the acquisition include the revenues expected to be achieved by incorporating a video feature in the Company's API platform along with a skilled workforce proficient in API development. The Company also recorded intangible assets of $15,602 comprised of customer relationships of $5,020 and developed technology of $10,582 . Supplemental Pro Forma Information (unaudited) The following supplemental pro forma information represents the results of operations if Vonage had acquired TokBox on January 1, 2018. For the year ended December 31, 2018 Revenue $ 1,054,649 Net income 19,459 Earnings per share - basic 0.08 Earnings per share - diluted 0.08 The pro forma information has been adjusted to include the pro-forma impact of amortization of intangible assets based on the preliminary purchase price allocations. The pro forma data has also been adjusted to eliminate non-recurring transaction costs as well as the related tax impact of pro forma adjustments. There were no transactions between Vonage and TokBox. The pro forma results are presented for illustrative purposes only and do not reflect the realization of potential cost savings or any related integration costs. Sale of Hosted Infrastructure Product Line On May 31, 2017, we completed the sale of our Hosted Infrastructure product line for up to $4.0 million consideration comprised of $1.0 million received upon closing, an additional $0.5 million of contingent consideration received during the third quarter of 2017 and the potential for up to $2.5 million further consideration based on the achievement of financial objectives for net sales during the 18 months following closing. The results of our Hosted Infrastructure product line have historically been included within the Business segment. As a result of the sale, we recorded a gain $1,879 for the year ended December 31, 2017, within other income. This disposal did not represent a strategic shift in operations and, therefore, did not qualify for presentation as discontinued operations.