Quarterly report pursuant to Section 13 or 15(d)


9 Months Ended
Sep. 30, 2021
Bird Rides [Member]  
Note 4 – Acquisitions
In January 2020, the Company acquired all of the issued and outstanding capital stock of LMTS Holding SCA (“CIRC”), a micromobility company based in Berlin with operations throughout Europe and the Middle East. The purpose of the acquisition is to further establish the Company’s presence in the Europe, Middle East, and Africa (“EMEA”) region. The results of CIRC’s operations, including revenues and expenses, are included in the statement of operations for the Company from the date of the transaction. The acquisition was accounted for as a business combination under ASC 805,
Business Combinations
. The Company acquired CIRC for $190.0 million of Series D and Series
Redeemable Convertible Preferred Stock. Assets acquired included $68.7 million of cash and $5.5 million of intangible assets.
Goodwill is attributable to the assembled workforce and the expected synergies from the acquisition. The purchase price was allocated to the assets acquired and the liabilities assumed based on estimated fair values as of the acquisition date as follows (in thousands):
Fair Value
Assets acquired:
Current assets
   $ 68,667  
Intangible assets:
Customer relationships
Government relationships
Net liabilities assumed
Total assets acquired, net
   $ 73,291  
Total purchase price
   $ 190,000  
   $ 116,709  
The Company incurred certain expenses related directly and indirectly to the CIRC acquisition of $3.5 million, which
recognized in the consolidated statement of operations for the nine months ended September 30, 2020.