On August 1, 2024, the Company, through its wholly owned subsidiary Clairvoyant AI, Inc., completed the acquisition of ITI Data, a Nebraska corporation, pursuant to an equity securities purchase agreement dated July 31, 2024 (the "Purchase Agreement"). The Company purchased 100% of the issued and outstanding equity securities in ITI Data. The ITI Data acquisition is treated as a stock acquisition for tax purposes.

ITI Data is a data management solutions firm that works with the global banks, financial services and healthcare companies. It delivers enterprise business solutions for clients processing significant data volumes with complex data management requirements. The acquisition strengthens the Company’s ability to deliver reliable, data-driven insights to its clients and ultimately drive greater value and innovation across their operations.

In connection with this acquisition, the Company recorded $12,500 in customer-related intangibles which are being amortized on a straight-line basis (which approximates the economic pattern of benefits) over the estimated weighted average amortization period of 5 years.

The goodwill recognized represents the acquired capabilities, operating synergies and other benefits expected to result from combining the acquired operations with the Company’s existing operations. The goodwill has been assigned to the Company’s Analytics reportable segment based upon the Company’s assessment of nature of services rendered by ITI Data.

The results of operations of the acquired business and the fair value of the acquired assets and assumed liabilities are included in the Company’s consolidated financial statements with effect from the date of the acquisition. The acquisition did not materially impact the Company's financial position, results of operations or cash flows, and therefore, the Company has not provided any supplemental pro forma results.


	Insurance		Healthcare		Emerging Business		Analytics		Total
Balance as of January 1, 2023	$	49,929	$	21,875	$	47,101	$	286,732	$	405,637


Currency translation adjustments	106		(3)		(100)		(1)		2
Balance as of December 31, 2023	50,035		21,872		47,001		286,731		405,639
Acquisition	—		—		—		22,035		22,035
Measurement period adjustments	—		—		—		(6,700)		(6,700)
Currency translation adjustments	(50)		(5)		(531)		(1)		(587)
Balance as of December 31, 2024	$	49,985	$	21,867	$	46,470	$	302,065	$	420,387

During the year ended December 31, 2024, the Company recognized measurement period adjustments, which led to decrease in goodwill in an amount of $6,700. These adjustments primarily relate to a change in fair value of contingent consideration and customer-related intangible assets and did not have any significant impact on “Depreciation and amortization” expense in the consolidated statements of income for the year ended December 31, 2024.

During 2024 and 2023, the Company performed an assessment to determine whether events or circumstances exist that may lead to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Based on such assessment, the Company concluded that there was no impairment on goodwill as of December 31, 2024 and 2023.


	As of December 31, 2024						As of December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Finite-lived intangible assets:
Customer relationships	$	108,550	$	(60,667)	$	47,883	$	99,050	$	(51,085)	$	47,965
Developed technology	3,529		(3,311)		218		3,552		(2,522)		1,030
Trade names and trademarks	1,700		(1,442)		258		1,400		(1,286)		114
Non-compete agreements	300		(228)		72		336		(181)		155
	114,079		(65,648)		48,431		104,338		(55,074)		49,264
Indefinite-lived intangible assets:
Trade names and trademarks	900		—		900		900		—		900
Total intangible assets	$	114,979	$	(65,648)	$	49,331	$	105,238	$	(55,074)	$	50,164

During the years ended December 31, 2024 and 2023, the Company performed an impairment test of its intangible assets for recoverability and determined that the carrying values of certain intangible assets were not fully recoverable. The Company

recorded impairment charges amounting to $429 and $nil for the years ended December 31, 2024 and 2023, respectively under “Depreciation and amortization” expense in the consolidated statements of income.


Estimated future amortization expense related to finite-lived intangible assets as of December 31, 2024 was as follows:
2025	$	13,120
2026	12,783
2027	11,844
2028	9,228
2029	1,456
Total	$	48,431