View Filing Data

Business Acquisition, Pro Forma Information



(In thousands, except per share data)	Pro Forma Fiscal Year Ended November 30, 2014
Revenue	$	367,811
Net loss	$	(30,007	)
Net loss per basic and diluted share	$	(0.59	)

Kinvey, Inc. [Member]

Schedule of Business Acquisitions, by Acquisition

The allocation of the purchase price is as follows (in thousands):



	Total			Life
Net working capital	$	(963	)
Property, plant and equipment	26
Purchased technology	22,100			5 Years
Trade name	1,800			5 Years
Customer relationships	100			5 Years
Net deferred tax assets	1,465
Goodwill	24,351
Net assets acquired	$	48,879

DataRPM Corporation [Member]

Schedule of Business Acquisitions, by Acquisition

The allocation of the purchase price is as follows (in thousands):



	Total			Life
Net working capital	$	(174	)
Property, plant and equipment	68
Purchased technology	19,900			5 Years
Trade name	800			5 Years
Customer relationships	100			5 Years
Deferred taxes	(5,006		)
Goodwill	12,583
Net assets acquired	$	28,271

Telerik AD [Member]

Schedule of Business Acquisitions, by Acquisition

The following table discloses the net assets acquired in the business combination (in thousands):



	Total			Weighted Average Life
Net working capital	$	8,222
Property, plant and equipment	3,078
Identifiable intangible assets	123,100			5 years
Deferred taxes	(9,272		)
Deferred revenue	(7,915		)
Other non-current liabilities	(2,732		)
Goodwill	137,472
Net assets acquired	$	251,953

Term Loan and Line of Credit (Tables)

12 Months Ended

Nov. 30, 2017

Debt Disclosure [Abstract]

Schedule of Maturities of Long-term Debt

As of November 30, 2017, aggregate principal payments of long-term debt for the next five years and thereafter are (in thousands):



2018	$	6,188
2019	6,188
2020	9,281
2021	12,375
2022	89,718
Total	$	123,750

Commitments and Contingencies (Tables)

12 Months Ended

Nov. 30, 2017

Commitments and Contingencies Disclosure [Abstract]

Future Minimum Rental Payments

Future minimum rental payments under these leases are as follows at November 30, 2017 (in thousands):



2018	$	5,841
2019	5,172
2020	4,755
2021	2,201
2022	1,505
Thereafter	3,717
Total	$	23,191

Stock-Based Compensation (Tables)

12 Months Ended

Nov. 30, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock Option Activity

A summary of stock option activity under all the plans is as follows:



	Shares		Weighted Average		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value⁽¹⁾
	(in thousands)		Exercise Price		(in years)	(in thousands)
Options outstanding, December 1, 2016	417		$	24.10
Granted	937		29.70
Exercised	(203	)	25.90
Canceled	(149	)	29.31
Options outstanding, November 30, 2017	1,002		$	28.29	4.89	$	13,077
Exercisable, November 30, 2017	269		$	24.09	2.64	$	4,639
Vested or expected to vest, November 30, 2017	875		$	28.06	4.77	$	11,620


(1)	The aggregate intrinsic value was calculated based on the difference between the closing price of our stock on November 30, 2017 of $41.34 and the exercise prices for all in-the-money options outstanding.

Summary of Status of Restricted Stock Units

A summary of restricted stock units activity is as follows (in thousands, except per share data):



	Number of Shares		Weighted Average Fair Value
Restricted stock units outstanding, December 1, 2016	1,583		$	26.14
Granted	833		29.54
Issued	(638	)	31.40
Canceled	(642	)	25.58
Restricted stock units outstanding, November 30, 2017	1,136		$	28.15

Fair Value of Options and Employee Stock Purchase Plan Shares Granted, Weighted Average Assumptions



	Fiscal Year Ended
	November 30, 2017		November 30, 2016		November 30, 2015
Stock options:
Expected volatility	25.0	%	—	%	28.0	%
Risk-free interest rate	1.9	%	—	%	1.3	%
Expected life (in years)	4.8		0		4.8
Expected dividend yield	1.7	%	—		—
Employee stock purchase plan:
Expected volatility	22.9	%	25.3	%	21.1	%
Risk-free interest rate	1.2	%	0.6	%	0.5	%
Expected life (in years)	1.5		1.6		1.6
Expected dividend yield	1.6	%	—		—
Long-term incentive plan:
Expected volatility	27.5	%	27.1	%	32.1	%
Risk-free interest rate	1.4	%	1	%	0.9	%
Expected life (in years)	2.7		2.7		2.7
Expected dividend yield	1.8	%	—		—

Stock Options and Stock Awards Activity

The following additional activity occurred under our plans (in thousands):



	Fiscal Year Ended
	November 30, 2017		November 30, 2016		November 30, 2015
Total intrinsic value of stock options on date exercised	$	1,622	$	2,017	$	3,895
Total fair value of deferred stock units on date vested	57		—		93
Total fair value of restricted stock units on date vested	20,032		17,213		18,621

Classification of Stock-Based Compensation

The following table provides the classification of stock-based compensation as reflected in our consolidated statements of operations (in thousands):



	Fiscal Year Ended
	November 30, 2017		November 30, 2016		November 30, 2015
Cost of maintenance and services	$	1,016	$	899	$	617
Sales and marketing	2,214		4,093		4,805
Product development	4,576		9,965		5,433
General and administrative	6,347		7,584		13,149
Total stock-based compensation	$	14,153	$	22,541	$	24,004
Income tax benefit included in the provision for income taxes from continuing operations	$	4,057	$	5,208	$	5,225

Restructuring (Tables)

12 Months Ended

Nov. 30, 2017

2017 Restructuring Activities [Member]

The following table provides a summary of activity for all of the restructuring actions, which are detailed further below (in thousands):



	Excess Facilities and Other Costs			Employee Severance and Related Benefits			Total
Balance, December 1, 2014	$	416		$	1,227		$	1,643
Costs incurred	5,567			7,422			12,989
Cash disbursements	(690		)	(5,653		)	(6,343		)
Asset impairment	(4,962		)	—			(4,962		)
Translation adjustments and other	81			(47		)	34
Balance, November 30, 2015	$	412		$	2,949		$	3,361
Costs incurred	319			1,373			1,692
Cash disbursements	(633		)	(2,906		)	(3,539		)
Translation adjustments and other	9			27			36
Balance, November 30, 2016	$	107		$	1,443		$	1,550
Costs incurred	2,655			19,555			22,210
Cash disbursements	(1,456		)	(17,778		)	(19,234		)
Asset impairment	(762		)	—			(762		)
Translation adjustments and other	26			336			362
Balance, November 30, 2017	$	570		$	3,556		$	4,126

2016 Restructuring Activities [Member]

A summary of activity for this restructuring action is as follows (in thousands):



	Excess Facilities and Other Costs			Employee Severance and Related Benefits			Total
Balance, December 1, 2016	$	—		$	—		$	—
Costs incurred	2,570			19,555			22,125
Cash disbursements	(1,294		)	(16,335		)	(17,629		)
Asset impairment	(762		)	—			(762		)
Translation adjustments and other	26			336			362
Balance, November 30, 2017	$	540		$	3,556		$	4,096

2015 Restructuring Activities [Member]

A summary of activity for this restructuring action is as follows (in thousands):



	Excess Facilities and Other Costs		Employee Severance and Related Benefits			Total
Balance, December 1, 2015	$	—	$	—		$	—
Costs incurred	—		1,482			1,482
Cash disbursements	—		(67		)	(67		)
Balance, November 30, 2016	$	—	$	1,415		$	1,415
Cash disbursements	—		(1,415		)	(1,415		)
Balance, November 30, 2017	$	—	$	—		$	—

2012 - 2014 Restructuring Activities [Member]

A summary of activity for this restructuring action is as follows (in thousands):



	Excess Facilities and Other Costs			Employee Severance and Related Benefits			Total
Balance, December 1, 2014	$	—		$	—		$	—
Costs incurred	4,406			3,108			7,514
Cash disbursements	(300		)	(2,801		)	(3,101		)
Asset impairment	(3,999		)	—			(3,999		)
Translation adjustments and other	102			2			104
Balance, November 30, 2015	$	209		$	309		$	518
Costs incurred	326			(43		)	283
Cash disbursements	(477		)	(267		)	(744		)
Translation adjustments and other	(1		)	1			—
Balance, November 30, 2016	$	57		$	—		$	57
Costs incurred	22			—			22
Cash disbursements	(79		)	—			(79		)
Balance, November 30, 2017	$	—		$	—		$	—

A summary of activity for this restructuring action is as follows (in thousands):



	Excess Facilities and Other Costs			Employee Severance and Related Benefits			Total
Balance, December 1, 2014	$	—		$	—		$	—
Costs incurred	963			3,108			4,071
Cash disbursements	—			(483		)	(483		)
Asset impairment	(963		)	—			(963		)
Translation adjustments and other	—			(8		)	(8		)
Balance, November 30, 2015	$	—		$	2,617		$	2,617
Costs incurred	—			(42		)	(42		)
Cash disbursements	—			(2,572		)	(2,572		)
Translation adjustments and other	—			25			25
Balance, November 30, 2016	$	—		$	28		$	28
Cash disbursements	—			(28		)	(28		)
Balance, November 30, 2017	$	—		$	—		$	—