Company: PATH
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001734722-25-000007
Chunk: 192

Company: UiPath, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 7
Chunk 192
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 valuation relies on unobservable inputs. None of our financial instruments were classified as Level 3 as of January 31, 2024.

6Business AcquisitionsFiscal Year 2023 AcquisitionRe:inferOn July 29, 2022, we acquired all of the outstanding capital stock of Re:infer, a natural language processing company focused on unstructured documents and communications. Re:infer uses machine learning technology to mine context from communication messages and transform them into actionable data. With this acquisition, we gained technology and an experienced team which we believe will continue to accelerate our technology roadmap, expand the breadth of our AI-powered automation capabilities, and unlock new automation opportunities for our customers. The Re:infer acquisition was accounted for as a business combination.

97

UiPath, Inc.Notes to Consolidated Financial Statements 

The total purchase consideration for the acquisition of Re:infer was $44.6 million, consisting of the following:Cash paid at closing$30,117 Fair value of Class A common stock issued at closing (0.2 million shares)2,965 Loan note paid on first anniversary of closing (July 29, 2023)5,863 Loan note paid on second anniversary of closing (July 29, 2024)5,570 Working capital adjustment66 Total$44,581 At closing, we also issued an additional 0.4 million shares of Class A common stock to be released to sellers in equal installments on the first, second, and third anniversaries of the closing date, subject to certain employment-related clawback provisions. The aggregate fair value of these shares totaled $7.6 million and is expensed as compensation for post-acquisition services over the three years following the acquisition date.The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date (in thousands): July 29, 2022Net tangible assets$300 Intangible assets13,100 Goodwill34,351 Total assets acquired47,751 Deferred tax liabilities assumed(3,170)Total$44,581 The following table sets forth the identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition:Fair Value(in thousands)Estimated Useful Life(in years)Developed technology$10,000 5.0Customer relationships3,100 3.0Total$13,100 The acquisition of Re:infer generated goodwill of $34.4 million representing expected synergies and