ACQUISITIONS On February 21, 2018 (the "Acquisition Date"), the Company acquired all of the issued and outstanding capital stock of DE Holdings, Inc., including its ForRent division ("ForRent"), a wholly owned subsidiary of Dominion Enterprises ("Seller"), for a purchase price of approximately $376 million . The purchase price was comprised of approximately $340 million in cash and 103,280 shares of Company common stock, valued at approximately $36 million . ForRent's primary service is digital advertising provided through a network of four multifamily websites. The acquisition is expected to yield increased revenue, significant cost synergies and an improved competitive position in the industry. The Company applied the acquisition method to account for the ForRent transaction, which requires that assets acquired and liabilities assumed be recorded at their fair values as of the acquisition date. The following table summarizes the amounts recorded for acquired assets and assumed liabilities recorded at their fair values as of the acquisition date (in thousands): Preliminary: February 21, 2018 Measurement Period Adjustments Adjusted: February 21, 2018 Cash and cash equivalents $ 59 $  $ 59 Accounts receivable 8,769  8,769 Indemnification asset 5,443  5,443 Goodwill 266,720 (207 ) 266,513 Intangible assets 141,300  141,300 Deferred tax liabilities (34,032 )  (34,032 ) Contingent sales tax liability (6,260 )  (6,260 ) State uncertain income tax position liability (2,047 )  (2,047 ) Other assets and liabilities (3,453 )  (3,453 ) Fair value of identifiable net assets acquired $ 376,499 $ (207 ) $ 376,292 The net assets of ForRent were recorded at their estimated fair values. In valuing acquired assets and assumed liabilities, fair value estimates were based primarily on future expected cash flows, market rate assumptions for contractual obligations, and appropriate discount rates. Measurement period adjustments relate to the determination of working capital as of the acquisition date. The estimated fair values are preliminary, subject to the completion of the assessment of the fair value of certain acquired intangible assets. The acquired customer base for the acquisition is composed of acquired customer contracts and the related customer relationships, and has a weighted average estimated useful life of ten years . The acquired database technology had an estimated useful life of three years . The acquired trade name has a weighted average estimated useful life of ten years . The acquired building photography had an estimated useful life of one year . Amortization of the acquired customer base is recognized on an accelerated basis related to the expected economic benefit of the intangible asset, while amortization of the acquired database technology, acquired building photography and acquired trade names and other intangible assets is recognized on a straight-line basis over their respective estimated useful lives. Goodwill recorded in connection with this acquisition is not amortized, but is subject to annual impairment tests. The $267 million of goodwill recorded as part of the acquisition is associated with the Company's North America operating segment. $8 million of the goodwill recognized is expected to be deductible for income tax purposes in future periods. Goodwill is calculated as the excess of the consideration transferred over the net assets recognized and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Specifically, the goodwill recorded as part of the ForRent acquisition includes but is not limited to: (i) the expected synergies and other benefits that the Company believes will result from combining its operations with ForRent's operations; and (ii) any intangible assets that do not qualify for separate recognition, such as the assembled workforce. Upon acquisition, the Company assessed the (i) probability of a contingent sales tax liability and (ii) a state uncertain income tax position liability due to apportionment factors, and recorded accruals of $6 million and $2 million , respectively. The Company could not determine the fair value for the pre-acquisition state sales tax liability and therefore estimated a liability in accordance with ASC 450 , using a state-by-state assessment. The uncertain income tax position was determined in accordance with the provisions of ASC 740 and was recorded as part of purchase price allocation. The Seller has provided an indemnity for tax liabilities related to periods prior to the acquisition. Seller's indemnification for sales taxes in the state of Texas is limited to approximately $2 million . The total indemnification asset established as of the acquisition date is $5 million . $1 million of the uncertain income tax position liability and related indemnification asset recognized as of the acquisition date were reversed during the three months ended September 30, 2018, upon expiration of the statute of limitations applicable to the uncertain income tax position. As part of the ForRent acquisition, the Company incurred $3 million of transaction costs. Additionally, the Company paid $12 million cash into a cash escrow account for retention compensation for certain ForRent employees, payable if they remained employed by the Company for a defined six-month period following the acquisition or were earlier terminated without cause or resigned for good reason. In the event some or all of those employees are not entitled to their retention bonus, those funds will be remitted to the Seller. The Company expensed the retention compensation as the services were performed in the post-combination period. The unaudited pro forma financial information presented below summarizes the combined results of operations for the Company and ForRent as though the companies were combined as of January 1, 2017. The unaudited pro forma financial information for all periods presented include amortization charges from acquired intangible assets, retention compensation for stay pay, as referenced above, and the related tax effects, along with certain other accounting effects, but excludes the impacts of any expected operational synergies. The unaudited pro forma financial information as presented below is for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved if the acquisition had taken place on January 1, 2017. The unaudited pro forma financial information for the three and nine months ended September 30, 2018 and 2017 combine the historical results of the Company for the three and nine months ended September 30, 2018 and 2017 and the historical results of ForRent for the period January 1, 2018 through February 20, 2018 and three and nine months ended September 30, 2017 and the effects of the pro forma adjustments listed above. The unaudited pro forma financial information was as follows (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Revenue $ 305,525 $ 272,961 $ 890,013 $ 788,959 Net income $ 62,723 $ 31,960 $ 166,553 $ 61,892 Net income per share - basic $ 1.74 $ 0.98 $ 4.62 $ 1.91 Net income per share - diluted $ 1.72 $ 0.97 $ 4.57 $ 1.89 Revenue attributable to ForRent from February 21, 2018 through September 30, 2018 was approximately $50 million . Subsequent to the acquisition, the Company executed an integration plan which includes transitioning ForRent customers to arrangements in which the customer is able to advertise across the Companys network of multifamily listing sites, including the legacy ForRent sites, for a single price. These arrangements do not specify revenues by site, however, all increases and decreases in combined revenue were allocated to ForRent for purposes of this disclosure. This amount represents an estimate of ForRent revenue and is not necessarily indicative of how ForRent would have performed on a stand-alone basis. The Company began integrating the sales force and operations after the closing of the acquisition in an effort to create operating synergies. As a result of these integration activities, it is impracticable to disclose earnings from ForRent for the period subsequent to the acquisition date. As the integration is completed in subsequent periods, the Company will continue to lose visibility into the operations of ForRent on a stand-alone basis and may no longer be able to provide disclosure of revenue attributable to ForRent.