3. Business Combinations The following table summarizes the Company's acquisitions during the period ended June 30, 2011 with amounts shown below as fair values at each respective acquisition date (in thousands): realholidays.com.au Second Porch Deferred revenue and net tangible assets (liabilities) $   $ 1 Deferred tax assets (liabilities)   (222 ) Trade name 469   Developed technology   1,585 Customer relationships 949   Non-compete agreements   225 Goodwill 703 1,411 Aggregate purchase price $ 2,121 $ 3,000 Tangible net assets were valued at their respective carrying amounts, which the Company believes approximate their current fair values at the respective acquisition dates. The valuation of identifiable intangible assets acquired reflects management's estimates based on, among other factors, use of established valuation methods. Non-competition agreements have been valued based on other arms' length transactions between the Company and selling shareholders in past acquisitions. Identifiable intangible assets with definite lives are amortized over the period of estimated benefit using the straight-line method and the estimated useful lives of three to seven years. Certain trade names acquired are indefinite-lived intangible assets and are therefore not amortized but reviewed for impairment annually, or more frequently if events or changes in circumstances indicate that the carrying amount may be impaired. The straight-line method of amortization represents the Company's best estimate of the distribution of the economic value of the identifiable intangible assets. Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. The Company does not consider the acquisitions during the period ended June 30, 2011 to be material or significant to its financial results. realholidays.com.au In April 2011, the Company acquired certain assets of realholidays.com.au, an Australian-based provider of web-based vacation