fis gaming business on june 1 , 2015 , we acquired certain assets of certegy check services , inc. , a wholly-owned subsidiary of fidelity national information services , inc .( 201cfis 201d ) .under the purchase arrangement , we acquired substantially all of the assets of its gaming business related to licensed gaming operators ( the 201cfis gaming business 201d ) , including relationships with gaming clients in approximately 260 locations as of the acquisition date , for $ 237.5 million , funded from borrowings on our revolving credit facility and cash on hand .we acquired the fis gaming business to expand our direct distribution and service offerings in the gaming market .the estimated acquisition-date fair values of major classes of assets acquired and liabilities assumed , including a reconciliation to the total purchase consideration , were as follows ( in thousands ) : .
[['customer-related intangible assets', '$ 143400'], ['liabilities', '-150 ( 150 )'], ['total identifiable net assets', '143250'], ['goodwill', '94250'], ['total purchase consideration', '$ 237500']]
goodwill arising from the acquisition , included in the north america segment , was attributable to an expected growth opportunities , including cross-selling opportunities at existing and acquired gaming client locations and operating synergies in the gaming business , and an assembled workforce .goodwill associated with this acquisition is deductible for income tax purposes .the customer-related intangible assets have an estimated amortization period of 15 years .valuation of identified intangible assets for the acquisitions discussed above , the estimated fair values of customer-related intangible assets were determined using the income approach , which was based on projected cash flows discounted to their present value using discount rates that consider the timing and risk of the forecasted cash flows .the discount rates used represented the average estimated value of a market participant 2019s cost of capital and debt , derived using customary market metrics .acquired technologies were valued using the replacement cost method , which required us to estimate the costs to construct an asset of equivalent utility at prices available at the time of the valuation analysis , with adjustments in value for physical deterioration and functional and economic obsolescence .trademarks and trade names were valued using the 201crelief-from-royalty 201d approach .this method assumes that trademarks and trade names have value to the extent that their owner is relieved of the obligation to pay royalties for the benefits received from them .this method required us to estimate the future revenues for the related brands , the appropriate royalty rate and the weighted-average cost of capital .the discount rates used represented the average estimated value of a market participant 2019s cost of capital and debt , derived using customary market metrics .note 3 2014 revenues we are a leading worldwide provider of payment technology and software solutions delivering innovative services to our customers globally .our technologies , services and employee expertise enable us to provide a broad range of solutions that allow our customers to accept various payment types and operate their businesses more efficiently .we distribute our services across a variety of channels to customers .the disclosures in this note are applicable for the year ended december 31 , 2018 .global payments inc .| 2018 form 10-k annual report 2013 79 .

Question: what portion of the total purchase consideration is goodwill?
Answer: 39.7%