The changes in the net carrying amount of goodwill in 2019 and six months ended June 30, 2020 were as follows:

Goodwill has been recorded as a result of prior acquisitions and represents excess of the consideration over the net fair value of the assets of the businesses acquired. As of June 30, 2020, the Company had two reporting units – Search and Advertising. The Company performs tests for impairment of goodwill at the reporting unit level at least annually, or more frequently if events or changes in circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value. As of 30 June 2020, the Company determined that there were no indicators of potential impairment with regards to its reporting units which required interim goodwill impairment analysis.

F - 13

PERION NETWORK LTD. AND ITS SUBSIDIARIES

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

U.S. dollars in thousands (except share and per share data)

NOTE 5:GOODWILL AND INTANGIBLE ASSETS, NET (Cont.)

b.Intangible assets, net

The following is a summary of intangible assets as of June 30, 2020:

	December 31, 2019			Additions		Amortization			OCI			June 30, 2020

Acquired technology	$	31,159		$	12,483	$	-		$	25		$	43,667
Accumulated amortization		(21,810	)		-		(1,320	)		(30	)		(23,160	)
Impairment		(8,749	)		-		-			-			(8,749	)
Acquired technology, net		600			12,483		(1,320	)		(5	)		11,758

Customer relationships		31,911			4,243		-			9			36,163
Accumulated amortization		(20,727	)		-		(659	)		(8	)		(21,394	)
Impairment		(10,426	)		-		-			-			(10,426	)
Customer relationships, net		758			4,243		(659	)		1			4,343

Tradename and other		18,284			-		-			38			18,322
Accumulated amortization		(11,897	)		-		(180	)		(37	)		(12,114	)
Impairment		(5,110	)		-		-			-			(5,110	)
Tradename and other, net		1,277			-		(180	)		1			1,098

Intangible assets, net	$	2,635		$	16,726	$	(2,159	)	$	(3	)	$	17,199

The following is a summary of intangible assets as of December 31, 2019:

	December 31, 2018			Additions		Amortization			OCI			December 31, 2019

Acquired technology	$	30,807		$	442	$	-		$	(90	)	$	31,159
Accumulated amortization		(21,242	)		-		(649	)		81			(21,810	)
Impairment		(8,749	)		-		-			-			(8,749	)
Acquired technology, net		816			442		(649	)		(9	)		600

Customer relationships		31,940			-		-			(29	)		31,911
Accumulated amortization		(19,825	)		-		(928	)		26			(20,727	)
Impairment		(10,426	)		-		-			-			(10,426	)
Customer relationships, net		1,689			-		(928	)		(3	)		758

Tradename and other		18,415			-		-			(131	)		18,284
Accumulated amortization		(9,314	)		-		(2,679	)		96			(11,897	)
Impairment		(5,110	)		-		-			-			(5,110	)
Tradename and other, net		3,991			-		(2,679	)		(35	)		1,277

Intangible assets, net	$	6,496		$	442	$	(4,256	)	$	(47	)	$	2,635