Note 16. Subsequent Events

On April 20, 2021, the Company acquired E4:9 Holdings, Inc. (“E4:9”) for approximately $28.9 million , subject to final working capital adjustments, consisting of cash consideration of approximately $9.8 million and stock consideration of $16.6 million.  E4:9 is a holding company with three operating subsidiaries serving the residential real estate sector: Encompass Lending Group, Dagley Insurance Agency and Real Results.  The Company is expected to benefit by gaining new opportunities to grow the business, while consumers will have a one-stop shop for all of their housing needs.

On April 26, 2021, the Company acquired LiveBy Inc. (“LiveBy”) for approximately $9.3 million , subject to final working capital adjustments, consisting of cash consideration of approximately $3.3 million and stock consideration of approximately $5.6 million.  LiveBy’s technology pairs local data with its geospatial boundaries to create key insights that help boost website management, inform and attract customers, and nurture agent leads.  The Company intends to fully integrate LiveBy into the Company’s proprietary intelliAgent software suite.

Determination of the final fair value and purchase price allocations for both the E4:9 and LiveBy acquisitions have not been completed as of the financial statement filing date as respective valuation determinations have yet to be performed.