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Goodwill and Intangible Assets, Net (Tables)
3 Months Ended
Mar. 31, 2021
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, 2020

 

$

187,411

 

Increase due to acquisition

 

 

49,308

 

Foreign currency translation

 

 

(1,940

)

Balance at March 31, 2021

 

$

234,779

 

 

Schedule of Intangible Assets

Intangible assets consisted of the following (in thousands):

 

 

 

 

 

 

 

 

 

As of March 31, 2021

 

 

 

Gross

carrying

amount

 

 

Weighted

average life

(years)

 

Accumulated

amortization

 

 

Net

carrying

amount

 

Amortizable intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Developed technology

 

$

35,258

 

 

3.49

 

$

(7,879

)

 

$

27,379

 

Tradenames

 

 

17,501

 

 

3.59

 

 

(7,873

)

 

 

9,628

 

Customer relationships

 

 

119,837

 

 

7.67

 

 

(25,970

)

 

 

93,867

 

Total intangible assets

 

$

172,596

 

 

 

 

$

(41,722

)

 

$

130,874

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2020

 

 

 

Gross

carrying

amount

 

 

Weighted

average life

(years)

 

 

Accumulated

amortization

 

 

Net

carrying

amount

 

Amortizable intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Developed technology

 

$

31,851

 

 

 

3.54

 

 

$

(5,322

)

 

$

26,529

 

Tradenames

 

 

15,360

 

 

 

3.52

 

 

 

(6,638

)

 

 

8,722

 

Customer relationships

 

 

100,590

 

 

 

7.41

 

 

 

(22,079

)

 

 

78,511

 

Total intangible assets

 

$

147,801

 

 

 

 

 

 

$

(34,039

)

 

$

113,762

 

Schedule of Expected Amortization of Intangible Assets

The expected amortization of the intangible assets, as of March 31, 2021, for each of the next five years and thereafter is as follows (in thousands):

 

 

 

 

 

 

2021 (for the remaining nine months)

 

$

23,319

 

2022

 

 

28,024

 

2023

 

 

23,021

 

2024

 

 

20,143

 

2025

 

 

13,202

 

Thereafter

 

 

23,165

 

 

 

$

130,874