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GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Sep. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

Goodwill

The Company has goodwill balances of $34.4 million and $3.0 million at September 30, 2018 and 2017, respectively, representing the excess of costs over fair value of net assets of businesses acquired. Goodwill acquired in a business combination and determined to have an indefinite useful life is not amortized, but instead is tested for impairment at least annually in accordance with ASC Topic 350. The following table summarizes changes in the balance of goodwill during the year ended September 30, 2018 (amounts shown in thousands):

Balance at September 30, 2017			$	3,014
Acquisition of ICAR			6,936
Acquisition of A2iA			24,867
Foreign currency effect on goodwill			(410)
Balance at September 30, 2018			$	34,407

Intangible assets

Intangible assets include the value assigned to completed technologies, customer relationships, and trade names. The estimated useful lives for all of these intangible assets, range from two to seven years. Intangible assets as of September 30, 2018 and 2017 are summarized as follows (amounts shown in thousands, except for years):

September 30, 2018:						Weighted Average Amortization Period						Cost						Accumulated Amortization						Net
Completed technologies						6.4 years						$	20,341					$	3,070					$	17,271
Customer relationships						4.8 years						17,628						2,351						15,277
Trade names						4.5 years						618						219						399
Total intangible assets												$	38,587					$	5,640					$	32,947

September 30, 2017:						Weighted Average Amortization Period						Cost						Accumulated Amortization						Net
Completed technologies						6.0 years						$	2,370					$	833					$	1,537
Customer relationships						6.0 years						970						341						629
Trade names						5.0 years						230						99						131
Total intangible assets												$	3,570					$	1,273					$	2,297

Amortization expense related to acquired intangible assets was $4.0 million, $0.6 million, and $0.6 million for fiscal years ended September 30, 2018, 2017, and 2016, respectively and is recorded in acquisition-related costs and expenses in the consolidated statements of operations.

The estimated future amortization expense related to intangible assets for each of the five succeeding fiscal years is expected to be as follows (amounts shown in thousands):

			Estimated Future Amortization Expense
2019			$	7,219
2020			6,594
2021			6,318
2022			5,909
2023			3,879
Thereafter			3,028
Total			$	32,947

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- References

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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

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