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Note 7 - Goodwill and Intangible Assets, Net

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

NOTE 7: GOODWILL AND INTANGIBLE ASSETS, NET

(a)

Goodwill:

Changes in goodwill are as follows:

	Year ended December 31,
	2020		2021
Balance as of January 1,	$	51,070	$	51,070
Acquisition		—		23,707
Balance as of December 31,	$	51,070	$	74,777

(b)

Intangible assets:

			Year ended December 31, 2020						Year ended December 31, 2021
	Weighted average amortization period (years)		Gross carrying amount		Accumulated amortization		Net		Gross carrying amount		Accumulated amortization		Net

Intangible assets –amortizable:

Intangible assets related to the acquisition of Intrinsix business
Customer relationships		5.5	$	—	$	—	$	—	$	3,604	$	382	$	3,222
Customer backlog		1.5		—		—		—		421		164		257
Patents		5.0		—		—		—		218		26		192
Core technologies		3.0		—		—		—		3,329		647		2,682


Intangible assets related to the acquisition of Hillcrest Labs business
Customer relationships		4.4	$	3,518	$	1,262	$	2,256	$	3,518	$	2,130	$	1,388
Customer backlog		0.5		72		72		—		72		72		—
R&D Tools		7.5		2,475		480		1,995		2,475		810		1,665

Intangible assets related to Immervision assets acuaisition
R&D Tools		6.4		7,063		1,575		5,488		7,063		2,679		4,384

Intangible assets related to an investment in NB-IoT technologies
NB-IoT technologies (*)		7.0		1,961		864		1,097		1,961		1,144		817

Total intangible assets			$	15,089	$	4,253	$	10,836	$	22,661	$	8,054	$	14,607

(*) During the first quarter of 2018, the Company entered into an agreement to acquire certain NB-IoT technologies in the amount of $2,800, of which technologies valued at $600 has not been received. Of the $2,200, $210 has not resulted in cash outflows as of December 31, 2021. In addition, the Company participated in programs sponsored by the Hong Kong government for the support of the above investment, and as a result, the Company received during 2019 an amount of $239 related to the NB-IoT technologies, which was reduced from the gross carrying amount of intangible assets. The Company recorded the amortization cost of the NB-IoT technologies on “cost of revenues” on the Company’s consolidated statements of income (loss).

Future estimated annual amortization charges are as follows:

2022		4,647
2023		3,714
2024		3,013
2025		2,262
2026 and thereafter		971
	$	14,607

The Company recorded amortization expense in the amount of $2,588 and $3,801 for the years ended December 31, 2020 and 2021, respectively.