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Goodwill and Intangible Assets, Net (Tables)
12 Months Ended
Dec. 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, 2019

 

$

91,421

 

Increase due to acquisitions

 

 

89,033

 

Foreign currency translation

 

 

6,957

 

Balance at December 31, 2020

 

 

187,411

 

Increase due to acquisitions

 

 

348,794

 

Foreign currency translation

 

 

(5,042

)

Balance at December 31, 2021

 

$

531,163

 

Schedule of Intangible Assets

Intangible assets consisted of the following (in thousands):

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2021

 

 

 

Gross

carrying

amount

 

 

Weighted-

average life

(years)

 

 

Accumulated

amortization

 

 

Net

carrying

amount

 

Amortizable intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Developed technology

 

$

43,178

 

 

 

3.41

 

 

$

(16,214

)

 

$

26,964

 

Tradenames

 

 

28,250

 

 

 

4.13

 

 

 

(12,779

)

 

 

15,471

 

Customer relationships

 

 

219,850

 

 

 

8.30

 

 

 

(42,966

)

 

 

176,884

 

Total intangible assets

 

$

291,278

 

 

 

 

 

 

$

(71,959

)

 

$

219,319

 

 

 

 

 

 

 

 

 

 

 

 

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 December 31, 2021, for each of the next five years and thereafter is as follows (in thousands):

 

2022

 

$

44,297

 

2023

 

 

39,351

 

2024

 

 

33,841

 

2025

 

 

27,442

 

2026

 

 

21,260

 

Thereafter

 

 

53,128

 

 

 

$

219,319