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GOODWILL AND OTHER INTANGIBLE ASSETS
 6 Months Ended
Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill
The change in the carrying amount of goodwill was:
(in thousands)
Six Months Ended  
June 30, 2019
Balance as of January 1,
$
72,858

Acquisition (1)
6,179

Currency translation adjustments
—

Balance as of June 30,
$
79,037


(1) In May 2019, the Company acquired In the Chat Communications Inc., a privately-held software provider of digital customer service software for $10.9 million, net of cash acquired. The Company also expects to issue up to approximately 15 thousand shares in retention-based bonus payments to a key employee upon the achievement of specified retention milestones. The principal assets and liabilities acquired as part of the business combination were additional goodwill and technology intangibles assets of $6.2 million and $5.1 million. The allocation of the purchase price is preliminary for income taxes as the Company is still gathering information.
Intangibles
Intangible assets are recorded at cost and amortized using the straight-line method over their estimated useful lives as follows:
 
 
 
June 30, 2019
(in thousands)
Useful Lives
 
Cost
 
Accumulated
Amortization
 
Net Book Value (1)
Client-related intangibles
4-10 years
 
$
63,115

 
$
(53,608
)
 
$
9,507

Technology
2-10 years
 
64,843

 
(52,605
)
 
12,238

Other
1 - 5 years
 
5,361

 
(5,361
)
 
—

 
 
 
$
133,319

 
$
(111,574
)
 
$
21,745

(1) Included in other long-term assets.
 
 
 
December 31, 2018
(in thousands)
Useful Lives
 
Cost
 
Accumulated Amortization
 
Net Book Value (1)
Client-related intangibles
4-10 years
 
$
63,115

 
$
(51,224
)
 
$
11,891

Technology
2-10 years
 
59,742

 
(50,398
)
 
9,344

Other
1 - 5 years
 
5,361

 
(5,361
)
 
—

 
 
 
$
128,218

 
$
(106,983
)
 
$
21,235

(1) Included in other long-term assets.
Amortization of intangible assets was:
(in thousands)
Three Months Ended  
June 30,
 
Six Months Ended  
June 30,
2019
 
2018
 
2019
 
2018
Cost of revenue
$
875

 
$
1,231

 
$
2,207

 
$
2,463

Selling and marketing
781

 
1,605

 
2,385

 
3,210

 
$
1,656

 
$
2,836

 
$
4,592

 
$
5,673