EURONEXT_Registration_Document_2017

FINANCIAL STATEMENTS

Notes to the Consolidated Financial Statements

NOTE 5

BUSINESS COMBINATIONS

The material acquisitions that occurred during the year are set out below.

of €5.4 million. The Group has acquired Company Webcast B.V. to expand the “Euronext’s Corporate Services” offer, which aims to help issuers make the most effective use of capital markets. The Group was able to derive benefits from this investment as from 1 January 2017. Details of the purchase consideration, the net assets acquired and goodwill are reflected in the tables below (fair value approximates book value).

Note 5.1 – Acquisition of Company Webcast B.V On 14 February 2017, the Group acquired 51% of the ordinary shares in Company Webcast B.V., a Dutch company specialised in professional webcast and webinar services, for a consideration

Purchase consideration :

FAIR VALUE

In thousands of euros

Cash paid

3,600

Contingent consideration

1,800

TOTAL PURCHASE CONSIDERATION

5,400

The assets and liabilities recognised as a result of the acquisition are as follows:

FAIR VALUE

In thousands of euros

Assets Property, plant and equipment

328

Other intangible assets

170

Deferred tax assets

243

Non-current other receivables

2

Trade and other receivables

988

Cash and cash equivalents

778

Liabilities Non-current borrowings

(82)

Current borrowings

(35)

Current income tax liabilities

(8)

Trade and other payables

(1,612)

Net identifiable assets acquired

772

Less: non-controlling interest

(378)

6

Add: Goodwill

5,006

TOTAL PURCHASE CONSIDERATION

5,400

Contingent Consideration The contingent consideration arrangement requires the Group to pay the former owners of Company Webcast B.V. 30% of the purchase consideration, ultimately on 31 March 2020. The fair value of the contingent consideration arrangement of €1.8 million was estimated based on a multiple of earnings and the average of actual 2016 and forecasted 2019 EBITDA. The liability is presented within other long-term financial liabilities in the balance sheet and subsequent measurement will be through profit or loss (see Note 30).

The goodwill is primarily attributable to the expected synergies and other benefits from combining the assets and activities of Company Webcast B.V. with those of the Group. The goodwill is not deductible for income tax purposes.

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2017 REGISTRATION DOCUMENT

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