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GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | 7. GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The following table presents the changes in the carrying amount of goodwill:
(in thousands) | 2019 |  | 2018
January 1, | $ | 72,858 |  |  | $ | 72,952 |
Acquisition (1) | 6,179 |  |  | — |
Currency translation adjustments | 2 |  |  | (94 | )
December 31, | $ | 79,039 |  |  | $ | 72,858 |
(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 intangible assets of $6.2 million and $5.1 million. As discussed in "Note 8. Segment Information" the Company operates in one operating segment and has one reporting unit. Intangibles Intangible assets are recorded at cost and amortized using the straight-line method over their estimated useful lives as follows:
|  |  | December 31, 2019
(in thousands) | Useful Lives |  | Cost |  | Accumulated Amortization |  | Net Book Value (1)
Client-related | 4-10 years |  | $ | 63,140 |  |  | $ | (54,368 | ) |  | $ | 8,772 |
Technology | 2-10 years |  | 64,843 |  |  | (53,898 | ) |  | 10,945 |
Other | 1-5 years |  | 5,361 |  |  | (5,361 | ) |  | — |
|  |  | $ | 133,344 |  |  | $ | (113,627 | ) |  | $ | 19,717 |
(1) Included in other long-term assets.
|  |  | December 31, 2018
(in thousands) | Useful Lives |  | Cost |  | Accumulated Amortization |  | Net Book Value (1)
Client-related | 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) | 2019 |  | 2018 |  | 2017
Cost of revenue | $ | 3,500 |  |  | $ | 5,027 |  |  | $ | 5,103 |
Selling and marketing | 3,125 |  |  | 6,416 |  |  | 7,235 |
| $ | 6,625 |  |  | $ | 11,443 |  |  | $ | 12,338 |
Future estimated amortization expense related to intangible assets:
(in thousands) | December 31, 2019
2020 | $ | 3,975 |
2021 | 3,651 |
2022 | 3,557 |
2023 | 3,289 |
2024 and thereafter | 5,245 |
| $ | 19,717 |

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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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