Business Combinations BrightPoint Security On June 3, 2016, we completed the acquisition of a privately-held company, BrightPoint Security, Inc. (BrightPoint), by acquiring all issued and outstanding common shares of BrightPoint for approximately $19.6 million in an all-cash transaction to expand our security operations solutions. The following table summarizes the allocation of the purchase price to the fair value of the tangible and intangible assets acquired and liabilities assumed as of the acquisition date: Purchase Price Allocation (in thousands) Useful Life (in years) Intangible assets: Developed technology $ 8,100 6 Customer contracts and related relationships 500 1.5 Goodwill 15,258 Net tangible liabilities acquired (1,339 ) Net deferred tax liabilities (1) (2,890 ) Total purchase price $ 19,629 (1) Deferred tax liabilities, net primarily relates to purchased identifiable intangible assets and is shown net of deferred tax assets. ITapp On April 8, 2016, we completed the acquisition of a privately-held company, ITapp Inc. (ITapp), by acquiring all issued and outstanding common shares of ITapp for approximately $14.5 million in an all-cash transaction to expand our IT operations management solutions. The following table summarizes the allocation of the purchase price to the fair value of the tangible and intangible assets acquired and liabilities assumed as of the acquisition date: Purchase Price Allocation (in thousands) Useful Life (in years) Net tangible assets acquired $ 140 Intangible assets: Developed technology 4,700 5 Customer contracts and related relationships 200 1.5 Goodwill 11,437 Net deferred tax liabilities (2,015 ) Total purchase price $ 14,462 For both business combinations, the excess of purchase consideration over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill. We believe the goodwill represents the synergies expected from expanded market opportunities when integrating the acquired technologies with our offerings. The goodwill balance