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Identifiable Intangible Assets and Goodwill (Tables) | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Components of Identifiable Intangible Assets | The components of identifiable intangible assets are:
| December 31, |  |
(in thousands) | 2024 |  | 2023 | Estimated Useful Life | Weighted-Average Amortization Period
Acquired developed technology | $ | 181,600 |  |  | $ | 119,800 |  | 3 - 7 years | 4.28 years
Internally developed software costs | 42,353 |  |  | 34,735 |  | 3 years | 2.63 years
Customer relationships | 115,910 |  |  | 14,510 |  | 5 - 15 years | 9.00 years
Trade names | 3,210 |  |  | 1,410 |  | 2 - 8 years | 7.58 years
Non-competition agreements | 7,230 |  |  | 30 |  | 1 - 5 years | 4.25 years
| 350,303 |  |  | 170,485 |  |  |
Impact of currency translation on intangible assets | (5,557) |  |  | 1,399 |  |  |
Less: accumulated amortization | (119,900) |  |  | (87,001) |  |  |
| $ | 224,846 |  |  | $ | 84,883 |  |  |
Internally developed software costs not meeting general release threshold | 1,287 |  |  | 2,886 |  |  |
Trademarks, trade names (non-amortizable) | 11,200 |  |  | 6,200 |  | Indefinite |
| $ | 237,333 |  |  | $ | 93,969 |  |  |
Schedule of Expected Future Amortization of Intangible Assets | The expected future amortization of intangible assets, assuming straight-line amortization of capitalized software development costs and acquisition related intangibles, excluding software costs not meeting the general release threshold, is as follows:
(in thousands) |
2025 | $ | 42,738 |
2026 | 40,726 |
2027 | 36,239 |
2028 | 24,958 |
2029 | 18,061 |
Thereafter | 62,124 |
Total | $ | 224,846 |
Schedule of Amortization Expense | Amortization expense for identifiable intangible assets was allocated as follows:
(in thousands) | 2024 |  | 2023 |  | 2022
Amortization of acquired developed technology | $ | 20,500 |  |  | $ | 16,281 |  |  | $ | 15,307 |
Amortization of internally developed software | 4,982 |  |  | 6,167 |  |  | 6,349 |
Amortization of identifiable intangible assets recorded in cost of sales | $ | 25,482 |  |  | $ | 22,448 |  |  | $ | 21,656 |
Amortization expense recorded in operating expense | 8,452 |  |  | 1,858 |  |  | 1,863 |
Impact of currency translation on intangible assets | 359 |  |  | (909) |  |  | (304) |
Schedule of Goodwill | The following table presents the goodwill activities for the periods presented:
(in thousands) |  |
Beginning balance - December 31, 2022 |  | $ | 486,026 |
Foreign currency translation |  | 2,892 |
Balance - December 31, 2023 |  | 488,918 |
Stuzo Acquisition |  | 134,112 |
TASK Group Acquisition |  | 182,042 |
Delaget Acquisition |  | 97,017 |
Foreign currency translation |  | (14,630) |
Ending balance - December 31, 2024 |  | $ | 887,459 |
Refer to "Note 2 - Acquisitions" for additional information on goodwill recognized in acquisitions

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