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Goodwill and Intangible Assets, Net (Tables)
9 Months Ended
Sep. 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

 

 

94

 

Increase due to acquisitions

 

 

92,033

 

Balance at September 30, 2020

 

$

183,548

 

 

Schedule of Intangible Assets

Intangible assets consisted of the following (in thousands):

 

 

 

 

 

 

 

 

 

As of September 30, 2020

 

 

 

Gross

carrying

amount

 

 

Weighted

average life

(years)

 

Accumulated

amortization

 

 

Net

carrying

amount

 

Amortizable intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Developed technology

 

$

14,395

 

 

3.00

 

$

(4,140

)

 

$

10,255

 

Tradenames

 

 

15,136

 

 

3.52

 

 

(5,496

)

 

 

9,640

 

Customer relationships

 

 

97,013

 

 

7.40

 

 

(17,985

)

 

 

79,028

 

Total intangible assets

 

$

126,544

 

 

 

 

$

(27,621

)

 

$

98,923

 

 

 

 

 

 

 

 

 

 

 

 

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 September 30, 2020, for each of the next five years and thereafter is as follows (in thousands):

 

 

 

 

 

 

2020 (for the remaining three months)

 

$

5,681

 

2021

 

 

22,478

 

2022

 

 

19,255

 

2023

 

 

14,274

 

2024

 

 

12,670

 

Thereafter

 

 

24,565

 

 

 

$

98,923