Business Acquisitions |
3 Months Ended |
|---|---|
Apr. 30, 2026 | |
| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |
| Business Acquisition | Business Acquisitions WorkFusion, Inc. On February 5, 2026, we acquired all outstanding equity of WorkFusion, Inc. ("WorkFusion"), a U.S.-based software company specializing in AI agents for financial crimes compliance. With this acquisition, we expand our portfolio of agentic AI-powered solutions for the financial services and banking industries. The total purchase consideration of approximately $190.0 million consists of initial cash consideration totalling $160.0 million and contingent consideration with an acquisition-date fair value of approximately $30.0 million. The WorkFusion acquisition is accounted for as a business combination, for which the initial purchase accounting is not yet complete. As of April 30, 2026, the purchase price has been provisionally allocated to identifiable intangible assets, primarily consisting of customer relationships and developed technology, of $85.0 million with a weighted-average estimated useful life of approximately 6 years; net deferred tax assets of $32.3 million; other net tangible assets of $8.8 million; and goodwill of $63.9 million representing expected synergies and acquired skilled workforce, based on management's best estimates as of the balance sheet date. None of this goodwill is deductible for tax purposes. We expect to finalize purchase accounting as soon as practicable, but no later than one year from the acquisition date. Peak AI Limited On March 7, 2025, we acquired all outstanding equity of Peak AI Limited ("Peak"), a UK-based software company that provides pricing and inventory intelligence technology. With this acquisition, we gained an experienced team, established customer relationships in retail and manufacturing sectors, and technology that is optimized for industry-specific use cases. The total purchase consideration was $38.1 million, consisting of initial cash consideration of $30.3 million and deferred and contingent consideration with an aggregate acquisition-date fair value of $7.8 million. The Peak acquisition was accounted for as a business combination. The purchase price was allocated to identifiable intangible assets, primarily consisting of customer relationships and developed technology, of $16.2 million with a weighted-average useful life of 3.8 years, other net liabilities of $5.4 million, and goodwill of $27.3 million, none of which is deductible for tax purposes.
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