Knight Capital’s Intangibles As Reported Through Ready Capital’s Year-End Earnings
Last year, Ready Capital Corporation (NYSE: RC) acquired small business funding provider Knight Capital.
RC’s year-end earnings provided some additional insight into the state of Knight Capital at the time it was acquired. This included balance sheet figures that recorded $48.4M in assets ($39.5M of which were purchased future receivables) and $31.8M in liabilities.
Among Knight’s intangible assets were a valuation of $880,000 assigned to the Knight Capital trade name, $1.2M assigned to the value of Knight’s broker network, and $3.8M assigned to the company’s internally developed software.
Goodwill of $11.2 million was recognized as the consideration paid exceeded the fair value of the net assets acquired.
View the full year-end financial statements by Ready Capital Corporation here
Last modified: March 21, 2020