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GOODWILL AND OTHER INTANGIBLE ASSETS, NET
 12 Months Ended
Dec. 31, 2023
Intangible assets, net [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS, NET
NOTE 7:
GOODWILL AND OTHER INTANGIBLE ASSETS, NET
 
  a.
Goodwill
 
The changes in the net carrying amount of goodwill in 2023 and 2022 were as follows:
 
Balance as of January 1, 2022
  
$
189,265
  
         
Vidazoo measurement period adjustments
  
$
6,262
  
         
Balance as of December 31, 2022
  
$
195,527
  
         
Acquisition of Hivestack
  
$
52,448
  
         
Balance as of December 31, 2023
  
$
247,975
  
 
Goodwill has been recorded as a result of prior acquisitions and represents excess of consideration over the net fair value of the assets of the businesses acquired. As of December 31, 2023, the Company has two reporting units - Display advertising and Search advertising. The Company performs tests for impairment of goodwill at the reporting unit level at least annually, or more frequently if events or changes in circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value.
 
No impairment was incurred for the years ended December 31, 2023, 2022 and 2021.

 

  b.
Intangible assets, net
 
The following is a summary of intangible assets as of December 31, 2023:
 
   
December 31, 2022
    
Additions
    
Amortization
    
December 31, 2023
  
                         
Acquired technology
  
$
89,775
    
$
35,072
    
$
-
    
$
124,847
  
Accumulated amortization
    
(41,023
)
    
-
      
(10,083
)
    
(51,106
)
Impairment
    
(8,749
)
    
-
      
-
      
(8,749
)
Acquired technology, net
    
40,003
      
35,072
      
(10,083
)
    
64,992
  
                                 
Customer relationships
    
46,544
      
11,206
      
-
      
57,750
  
Accumulated amortization
    
(24,976
)
    
-
      
(2,080
)
    
(27,056
)
Impairment
    
(10,426
)
    
-
      
-
      
(10,426
)
Customer relationships, net
    
11,142
      
11,206
      
(2,080
)
    
20,268
  
                                 
Tradename and other
    
18,503
      
3,158
      
-
      
21,661
  
Accumulated amortization
    
(12,874
)
    
-
      
(285
)
    
(13,159
)
Impairment
    
(5,110
)
    
-
      
-
      
(5,110
)
Tradename and other, net
    
519
      
3,158
      
(285
)
    
3,392
  
                                 
Intangible assets, net
  
$
51,664
    
$
49,436
    
$
(12,448
)
  
$
88,652
  
 
The following is a summary of intangible assets as of December 31, 2022:
 
   
December 31, 2021
    
Additions
    
Amortization
    
December 31, 2022
  
                         
Acquired technology
  
$
84,417
    
$
5,358
    
$
-
    
$
89,775
  
Accumulated amortization
    
(31,137
)
    
-
      
(9,886
)
    
(41,023
)
Impairment
    
(8,749
)
    
-
      
-
      
(8,749
)
Acquired technology, net
    
44,531
      
5,358
      
(9,886
)
    
40,003
  
                                 
Customer relationships
    
45,054
      
1,490
      
-
      
46,544
  
Accumulated amortization
    
(23,218
)
    
-
      
(1,758
)
    
(24,976
)
Impairment
    
(10,426
)
    
-
      
-
      
(10,426
)
Customer relationships, net
    
11,410
      
1,490
      
(1,758
)
    
11,142
  
                                 
Tradename and other
    
18,503
      
-
      
-
      
18,503
  
Accumulated amortization
    
(12,634
)
    
-
      
(240
)
    
(12,874
)
Impairment
    
(5,110
)
    
-
      
-
      
(5,110
)
Tradename and other, net
    
759
      
-
      
(240
)
    
519
  
                                 
Intangible assets, net
  
$
56,700
    
$
6,848
    
$
(11,884
)
  
$
51,664
  

 

The estimated useful life of the intangible assets are as follows:
 
 
Estimated 
useful life
Acquired technology
4-8 years
Customer relationship
5-15 years
Tradename
4-11 years
 
Amortization of intangible assets, net, in each of the succeeding five years and thereafter is estimated as follows:
 
2024
  
$
16,946
  
2025
    
13,502
  
2026
    
12,175
  
2027
    
12,047
  
2028
    
10,691
  
Thereafter
    
23,291
  
         
   
$
88,652