Econocom - 2020 annual report
06 consolidated financial statements
notes to the consolidated financial statements
Intangible assets acquired in business combinations Intangible assets acquired by the Group in business combinations are measured at their acquisition cost less any accumulated amortisation and impairment losses. They essentially include operating licences and computer software. They are depreciatedon a straight linebasis over their useful lives.
The customer portfolio acquired from the ECS group was valued using the MEEM method (Multi-period Excess Earnings Method) at €40 million and is being amortised over20 years. Useful life In years
3 – 5
Amortisable business assets
20
ECS customer portfolio
3 – 7 3 – 7
Franchises, patents, licences
IT systems
The Group has no intangible assets with indefinite useful lives except for the goodwill presented in note 9.
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2020 annual report
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