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Goodwill and Intangible Assets, Net (Tables)
6 Months Ended
Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Gross Carrying Amount of Goodwill The following table displays the changes in the gross carrying amount of goodwill (in thousands):

 

 

 

 

 

 

Balance at December 31, 2019

 

$

91,421

 

Foreign currency translation

 

 

(2,558

)

Increase due to acquisitions

 

 

67,251

 

Balance at June 30, 2020

 

$

156,114

 

 

Schedule of Intangible Assets

Intangible assets consisted of the following (in thousands):

 

 

 

 

 

 

 

 

 

As of June 30, 2020

 

 

 

Gross

carrying

amount

 

 

Weighted

average life

(years)

 

Accumulated

amortization

 

 

Net

carrying

amount

 

Amortizable intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Developed technology

 

$

11,951

 

 

3.00

 

$

(2,966

)

 

$

8,985

 

Tradenames

 

 

14,072

 

 

3.56

 

 

(4,414

)

 

 

9,658

 

Customer relationships

 

 

82,728

 

 

7.15

 

 

(14,586

)

 

 

68,142

 

Total intangible assets

 

$

108,751

 

 

 

 

$

(21,966

)

 

$

86,785

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2019

 

 

 

Gross

carrying

amount

 

 

Weighted

average life

(years)

 

 

Accumulated

amortization

 

 

Net

carrying

amount

 

Amortizable intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Developed technology

 

$

9,485

 

 

 

3.00

 

 

$

(4,232

)

 

$

5,253

 

Tradenames

 

 

11,437

 

 

 

3.50

 

 

 

(2,724

)

 

 

8,713

 

Customer relationships

 

 

63,667

 

 

 

6.84

 

 

 

(10,533

)

 

 

53,134

 

Total intangible assets

 

$

84,589

 

 

 

 

 

 

$

(17,489

)

 

$

67,100

 

Schedule of Expected Amortization of Intangible Assets

The expected amortization of the intangible assets, as of June 30, 2020, for each of the next five years and thereafter is as follows (in thousands):

 

 

 

 

 

 

2020 (for the remaining six months)

 

$

9,970

 

2021

 

 

19,699

 

2022

 

 

16,485

 

2023

 

 

11,991

 

2024

 

 

11,031

 

Thereafter

 

 

17,609

 

 

 

$

86,785