. Goodwill and other intangible assets:

Goodwill

Goodwill represents the excess of the purchase price over the fair value of tangible and identifiable intangible assets acquired and liabilities assumed in our acquisitions.

The Company's Goodwill balance is

$110.1

million as of

September 30, 2019 (

December 31, 2018 –

$90.1

million), up

$20.0

million from

December 31, 2018,

as a result of the acquisition of Ascio (See Note

(b) – Acquisitions for more information). The Company's goodwill relates

98%

(

$108.0

million) to its Domain Services operating segment and

(

$2.1

million) to its Network Access Services operating segment.

Goodwill is

not

amortized, but is subject to an annual test, or more frequently if impairment indicators are present.

Other Intangible Assets:

Intangible assets consist of acquired brand, technology, customer relationships, surname domain names, direct navigation domain names and network rights. The Company considers its intangible assets consisting of surname domain names and direct navigation domain names as indefinite life intangible assets. The Company has the exclusive right to these domain names as long as the annual renewal fees are paid to the applicable registry. Renewals occur routinely and at a nominal cost. The indefinite life intangible assets are

not

amortized but are subject to impairment assessments performed throughout the year. As part of the normal renewal evaluation process during the periods ended

September 30, 2019

and

September 30, 2018,

the Company assessed that certain domain names that were originally acquired in the

June 2006

acquisition of Mailbank.com Inc. that were up for renewal, should

not

be renewed.

Intangible assets, comprising brand, technology, customer relationships and network rights are being amortized on a straight-line basis over periods of

two

fifteen

years.

A summary of acquired intangible assets for the

three

months ended

September 30, 2019

is as follows

(Dollar amounts in thousands of U.S. dollars)

	Surname domain names			Direct navigation domain names			Brand			Customer relationships			Technology			Network rights			Total
Amortization period	indefinite life			indefinite life			7 years			3-7 years			2 - 7 years			15 years
Balances June 30, 2019	$	11,173		$	1,242		$	10,060		$	34,375		$	2,110		$	491		$	59,451
Acquisition of customer relationships		-			-			-			64			-			-			64
FreedomPop acquisition 1		-			-			-			3,475			-			-			3,475
Additions to/(disposals from) domain portfolio, net		(6	)		(60	)		-			-			-			-			(66	)
Amortization expense		-			-			(514	)		(2,030	)		(302	)		(12	)		(2,858	)
Balances September 30, 2019	$	11,167		$	1,182		$	9,546		$	35,884		$	1,808		$	479		$	60,066

In the

third

quarter of

2019,

the Company acquired the mobile customer base of FreedomPop and Unreal Mobile brands from STS Media Inc., operating on the Sprint network. The migration of these customers occurred over a

-day period, ending in

September 2019

with subscribers having the option to accept the Ting offering or cancel or port their service elsewhere. The final purchase price was

$3.5

million.

A summary of acquired intangible assets for the

nine

months ended

September 30, 2019

is as follows

(Dollar amounts in thousands of U.S. dollars)

	Surname domain names			Direct navigation domain names			Brand			Customer relationships			Technology			Network rights			Total
Amortization period	indefinite life			indefinite life			7 years			3-7 years			2 - 7 years			15 years
Balances December 31, 2018	$	11,176		$	1,245		$	9,004		$	27,292		$	163		$	515		$	49,395
Acquisition of Ascio Technologies, Inc. (note 4 (b))		-			-			2,020			10,200			2,420			-			14,640
FreedomPop acquisition 1		-			-			-			3,475			-			-			3,475
Acquisition of customer relationships		-			-			-			91			-			-			91
Additions to/(disposals from) domain portfolio, net		(9	)		(63	)		-			-			-			-			(72	)
Amortization expense		-			-			(1,478	)		(5,174	)		(775	)		(36	)		(7,463	)
Balances September 30, 2019	$	11,167		$	1,182		$	9,546		$	35,884		$	1,808		$	479		$	60,066

In the

third

quarter of

2019,

the Company acquired the mobile customer base of FreedomPop and Unreal Mobile brands from STS Media Inc., operating on the Sprint network. The migration of these customers occurred over a

-day period, ending in

September 2019

with subscribers having the option to accept the Ting offering or cancel or port their service elsewhere. The final purchase price was

$3.5

million.

The following table shows the estimated amortization expense in future periods, assuming

further additions to acquired intangible assets are made

(Dollar amounts in thousands of U.S. dollars)

	September 30, 2019
Remainder of 2019		2,385
2020		10,594
2021		10,580
2022		10,140
2023		9,288
Thereafter		4,730
Total		47,717

As of

September 30, 2019,

the accumulated amortization for the definite life intangible assets was

$32.0

million. As of

December 31, 2018,

the accumulated amortization for the definite life intangible assets was

$24.5

million.