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GOODWILL AND INTANGIBLE ASSETS | 12 Months Ended
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Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS Goodwill and intangible asset balances consisted of the following:
| As of June 30, 2019 |  | Amortization Period
($ in thousands) | Gross |  | Accumulated Amortization |  | Net |
Intangible assets: |  |  |  |  |  |  |
Non-compete agreements | $ | 2 |  |  | $ | (2 | ) |  | $ | — |  |  | 2 years
Brand and tradenames | 1,695 |  |  | (470 | ) |  | 1,225 |  |  | 3 - 7 years
Developed technology | 10,939 |  |  | (3,266 | ) |  | 7,673 |  |  | 5 - 6 years
Customer relationships | 19,049 |  |  | (1,776 | ) |  | 17,273 |  |  | 10 - 18 years
Total intangible assets | $ | 31,685 |  |  | $ | (5,514 | ) |  | $ | 26,171 |  |  |
Goodwill | 64,149 |  |  | — |  |  | 64,149 |  |  | Indefinite
Total intangible assets and goodwill | $ | 95,834 |  |  | $ | (5,514 | ) |  | $ | 90,320 |  |  |
| As of June 30, 2018 |  | Amortization Period
($ in thousands) | Gross |  | Accumulated Amortization |  | Net |
Intangible assets: |  |  |  |  |  |  |
Non-compete agreements | $ | 2 |  |  | $ | (2 | ) |  | $ | — |  |  | 2 years
Brand and tradenames | 1,695 |  |  | (226 | ) |  | 1,469 |  |  | 3 - 7 years
Developed technology | 10,939 |  |  | (1,421 | ) |  | 9,518 |  |  | 5 - 6 years
Customer relationships | 19,049 |  |  | (711 | ) |  | 18,338 |  |  | 10 - 18 years
Total intangible assets | $ | 31,685 |  |  | $ | (2,360 | ) |  | $ | 29,325 |  |  |
Goodwill | 64,149 |  |  | — |  |  | 64,149 |  |  | Indefinite
Total intangible assets and goodwill | $ | 95,834 |  |  | $ | (2,360 | ) |  | $ | 93,474 |  |  |
During the year ended June 30, 2018, the Company recognized $52.7 million in goodwill, net of a $0.3 million post-closing working capital adjustment, and $30.8 million in newly acquired intangibles in association with the Cantaloupe acquisition as referenced in Note 4. There were no impairments of goodwill during the years ended June 30, 2018 and 2019. For the years ended June 30, 2019, 2018 and 2017, amortization expense related to intangible assets was $3.2 million, $2.1 million and $0.2 million, respectively. The weighted-average remaining useful life of the finite-lived intangible assets was 12.3 years as of June 30, 2019, of which the weighted-average remaining useful life for the brand and tradenames was 5.3 years, for the developed technology was 4.3 years, and for the customer relationships was 16.3 years. Estimated annual amortization expense for intangible assets is as follows (in thousands):
2020 | $ | 3,138 |
2021 | 3,074 |
2022 | 3,010 |
2023 | 3,010 |
2024 | 1,909 |
Thereafter | 12,030 |
| $ | 26,171 |

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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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