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Business Combination, Goodwill, and Intangible Assets, Net.
 12 Months Ended
Dec. 31, 2023
Business Combination, Goodwill, and Intangible Assets, Net. [Abstract]  
BUSINESS COMBINATION, GOODWILL, AND INTANGIBLE ASSETS, NET.

NOTE 10: - BUSINESS COMBINATION, GOODWILL, AND INTANGIBLE ASSETS, NET.

 

On April 30, 2023, the Company acquired certain assets and liabilities of Continual Ltd., an Israel corporation for total gross consideration of $2,477. Continual is a leading mobility experience analytics company that uses Artificial Intelligence (AI) and Machine Learning (ML) to deliver advanced insights to help telecom operators improve their subscribers mobility experience. The Company expensed the related acquisition costs of $57 in General and Administrative.

 

Goodwill generated from this business combination is primarily attributable to the assembled workforce and expected post-acquisition synergies from integrating Continual`s technology into the Company`s portfolio. Goodwill is deductible for tax purposes.

 

Pro forma results of operations have not been presented because the acquisition was not material to the Company's results of operations.

 

The purchase price allocation for the acquisition has been determined as follows:

 

   For the Year ended 
   December 31, 
   2023 
Goodwill  $1,243 
Technology  1,048 
Customer relationships  887 
Short term and long term IIA liability   (701)
   $2,477 

 

The following table represent the changes in carrying amount of goodwill:

 

   Year ended
December 31,		 
   2023 
Balance as of beginning of the year   - 
Goodwill acquired  $1,243 
Closing balance  $1,243 

 

The composition of intangible assets is as follows:

 

   Year ended
December 31,		 
   2023 
Original amount:    
     
Technology  $1,048 
Customer relationships   887 
    1,935 
Less - accumulated amortization   228 
Intangible assets, net  $1,707