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GOODWILL AND OTHER INTANGIBLE ASSETS | 6 Months Ended
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Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The change in the carrying amount of goodwill was:
(in thousands) | Six Months Ended June 30, 2019
Balance as of January 1, | $ | 72,858 |
Acquisition (1) | 6,179 |
Currency translation adjustments | — |
Balance as of June 30, | $ | 79,037 |
(1) In May 2019, the Company acquired In the Chat Communications Inc., a privately-held software provider of digital customer service software for $10.9 million, net of cash acquired. The Company also expects to issue up to approximately 15 thousand shares in retention-based bonus payments to a key employee upon the achievement of specified retention milestones. The principal assets and liabilities acquired as part of the business combination were additional goodwill and technology intangibles assets of $6.2 million and $5.1 million. The allocation of the purchase price is preliminary for income taxes as the Company is still gathering information. Intangibles Intangible assets are recorded at cost and amortized using the straight-line method over their estimated useful lives as follows:
|  |  | June 30, 2019
(in thousands) | Useful Lives |  | Cost |  | Accumulated Amortization |  | Net Book Value (1)
Client-related intangibles | 4-10 years |  | $ | 63,115 |  |  | $ | (53,608 | ) |  | $ | 9,507 |
Technology | 2-10 years |  | 64,843 |  |  | (52,605 | ) |  | 12,238 |
Other | 1 - 5 years |  | 5,361 |  |  | (5,361 | ) |  | — |
|  |  | $ | 133,319 |  |  | $ | (111,574 | ) |  | $ | 21,745 |
(1) Included in other long-term assets.
|  |  | December 31, 2018
(in thousands) | Useful Lives |  | Cost |  | Accumulated Amortization |  | Net Book Value (1)
Client-related intangibles | 4-10 years |  | $ | 63,115 |  |  | $ | (51,224 | ) |  | $ | 11,891 |
Technology | 2-10 years |  | 59,742 |  |  | (50,398 | ) |  | 9,344 |
Other | 1 - 5 years |  | 5,361 |  |  | (5,361 | ) |  | — |
|  |  | $ | 128,218 |  |  | $ | (106,983 | ) |  | $ | 21,235 |
(1) Included in other long-term assets. Amortization of intangible assets was:
(in thousands) | Three Months Ended June 30, |  | Six Months Ended June 30,
2019 |  | 2018 |  | 2019 |  | 2018
Cost of revenue | $ | 875 |  |  | $ | 1,231 |  |  | $ | 2,207 |  |  | $ | 2,463 |
Selling and marketing | 781 |  |  | 1,605 |  |  | 2,385 |  |  | 3,210 |
| $ | 1,656 |  |  | $ | 2,836 |  |  | $ | 4,592 |  |  | $ | 5,673 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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