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GOODWILL AND OTHER INTANGIBLE ASSETS, NET
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS, NET
NOTE 6:
GOODWILL AND OTHER INTANGIBLE ASSETS, NET
 
  a.
Goodwill
 
The changes in the net carrying amount of goodwill in 2022 and 2021 were as follows:
 
Balance as of January 1, 2021
  
$
152,303
  
         
Acquisition of Vidazoo
  
$
36,962
  
         
Balance as of December 31, 2021
  
$
189,265
  
         
Vidazoo measurement period adjustments
  
$
6,262
  
         
Balance as of December 31, 2022
  
$
195,527
  
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 December 31, 2022, the Company has two reporting units – Display advertising and Search 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.
 
No impairment was incurred for the years ended December 31, 2022, 2021 and 2020.

 

  b.
Intangible assets, net
 
The following is a summary of intangible assets as of December 31, 2022:
 
   
December 31,
2021
    
Vidazoo
measurement
period
adjustments
    
Amortization
    
December 31,
2022
  
                         
Acquired technology
  
$
84,417
    
$
5,358
    
$
-
    
$
89,775
  
Accumulated amortization
    
(31,137
)
    
-
      
(9,886
)
    
(41,023
)
Impairment
    
(8,749
)
    
-
      
-
      
(8,749
)
Acquired technology, net
    
44,531
      
5,358
      
(9,886
)
    
40,003
  
                                 
Customer relationships
    
45,054
      
1,490
      
-
      
46,544
  
Accumulated amortization
    
(23,218
)
    
-
      
(1,758
)
    
(24,976
)
Impairment
    
(10,426
)
    
-
      
-
      
(10,426
)
Customer relationships, net
    
11,410
      
1,490
      
(1,758
)
    
11,142
  
                                 
Tradename and other
    
18,503
      
-
      
-
      
18,503
  
Accumulated amortization
    
(12,634
)
    
-
      
(240
)
    
(12,874
)
Impairment
    
(5,110
)
    
-
      
-
      
(5,110
)
Tradename and other, net
    
759
      
-
      
(240
)
    
519
  
                                 
Intangible assets, net
  
$
56,700
    
$
6,848
    
$
(11,884
)
  
$
51,664
  
 
The following is a summary of intangible assets as of December 31, 2021:
 
   
December 31,
2020
    
Additions
    
Amortization
    
December 31,
2021
  
                         
Acquired technology
  
$
53,412
    
$
31,005
    
$
-
    
$
84,417
  
Accumulated amortization
    
(25,548
)
    
-
      
(5,589
)
    
(31,137
)
Impairment
    
(8,749
)
    
-
      
-
      
(8,749
)
Acquired technology, net
    
19,115
      
31,005
      
(5,589
)
    
44,531
  
                                 
Customer relationships
    
36,860
      
8,194
      
-
      
45,054
  
Accumulated amortization
    
(22,161
)
    
-
      
(1,057
)
    
(23,218
)
Impairment
    
(10,426
)
    
-
      
-
      
(10,426
)
Customer relationships, net
    
4,273
      
8,194
      
(1,057
)
    
11,410
  
                                 
Tradename and other
    
18,503
      
-
      
-
      
18,503
  
Accumulated amortization
    
(12,405
)
    
-
      
(229
)
    
(12,634
)
Impairment
    
(5,110
)
    
-
      
-
      
(5,110
)
Tradename and other, net
    
988
      
-
      
(229
)
    
759
  
                                 
Intangible assets, net
  
$
24,376
    
$
39,199
    
$
(6,875
)
  
$
56,700
  

 

The estimated useful life of the intangible assets are as follows:
 
     
Estimated
useful life
  
Acquired technology
    
4-7 years
  
Customer relationships
    
5-8 years
  
Tradename and other
    
4-11 years
  

Amortization of intangible assets, net, in each of the succeeding five years and thereafter is estimated as follows:
 
2023
  
$
12,255
  
2024
    
11,718
  
2025
    
8,283
  
2026
    
6,834
  
2027
    
6,590
  
Thereafter
    
5,984
  
         
   
$
51,664