note 3 .
business combinations purchase combinations .
during the fiscal years presented , the company made a number of purchase acquisitions .
for each acquisition , the excess of the purchase price over the estimated value of the net tangible assets acquired was allocated to various intangible assets , consisting primarily of developed technology , customer and contract-related assets and goodwill .
the values assigned to developed technologies related to each acquisition were based upon future discounted cash flows related to the existing products 2019 projected income streams .
goodwill , representing the excess of the purchase consideration over the fair value of tangible and identifiable intangible assets acquired in the acquisitions , will not to be amortized .
goodwill is not deductible for tax purposes .
the amounts allocated to purchased in-process research and developments were determined through established valuation techniques in the high-technology industry and were expensed upon acquisition because technological feasibility had not been established and no future alternative uses existed .
the consolidated financial statements include the operating results of each business from the date of acquisition .
the company does not consider these acquisitions to be material to its results of operations and is therefore not presenting pro forma statements of operations for the fiscal years ended october 31 , 2006 , 2005 and 2004 .
fiscal 2006 acquisitions sigma-c software ag ( sigma-c ) the company acquired sigma-c on august 16 , 2006 in an all-cash transaction .
reasons for the acquisition .
sigma-c provides simulation software that allows semiconductor manufacturers and their suppliers to develop and optimize process sequences for optical lithography , e-beam lithography and next-generation lithography technologies .
the company believes the acquisition will enable a tighter integration between design and manufacturing tools , allowing the company 2019s customers to perform more accurate design layout analysis with 3d lithography simulation and better understand issues that affect ic wafer yields .
purchase price .
the company paid $ 20.5 million in cash for the outstanding shares and shareholder notes of which $ 2.05 million was deposited with an escrow agent and will be paid per the escrow agreement .
the company believes that the escrow amount will be paid .
the total purchase consideration consisted of: .

( in thousands )
cash paid
$ 20500
acquisition-related costs
2053
total purchase price
$ 22553

acquisition-related costs of $ 2.1 million consist primarily of legal , tax and accounting fees , estimated facilities closure costs and employee termination costs .
as of october 31 , 2006 , the company had paid $ 0.9 million of the acquisition-related costs .
the $ 1.2 million balance remaining at october 31 , 2006 primarily consists of legal , tax and accounting fees , estimated facilities closure costs and employee termination costs .
assets acquired .
the company performed a preliminary valuation and allocated the total purchase consideration to assets and liabilities .
the company acquired $ 6.0 million of intangible assets consisting of $ 3.9 million in existing technology , $ 1.9 million in customer relationships and $ 0.2 million in trade names to be amortized over five years .
the company also acquired assets of $ 3.9 million and assumed liabilities of $ 5.1 million as result of this transaction .
goodwill , representing the excess of the purchase price over the .

Question: what percentage of the total purchase price was intangible assets?
Answer: 27%