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 ) : .

Table:
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%
Calculation: divide(94250, 237500)