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Intangible Assets, Net

12 Months Ended

Dec. 31, 2023

NOTE 8:- INTANGIBLE ASSETS, NET

Composition and movement:

	Capitalized Software development costs			Customer relationship			Acquired technology			Others			Total

Cost:
Balance as of January 1, 2022	$	90,101		$	86,651		$	18,371		$	637		$	195,760
Capitalized development costs		3,059			-			-			-			3,059
Purchase of intangible asset		-			219			-			-			219
Acquisition of subsidiaries		-			11,319			2,707			-			14,026
Adjustments arising from translating financial statements of foreign operations		(103	)		(5,055	)		(1,030	)		(53	)		(6,241	)

Balance as of December 31, 2022	$	93,057		$	93,134		$	20,048		$	584		$	206,823

Accumulated amortization and impairment:
Balance as of January 1, 2022	$	79,354		$	54,494		$	10,329		$	193		$	144,370
Amortization recognized in the year		3,817			7,865			1,797			95			13,574
Adjustments arising from translating financial statements of foreign operations		-			(2,930	)		(244	)		(4	)		(3,178	)

Balance as of December 31, 2022	$	83,171		$	59,429		$	11,882		$	284		$	154,766

Amortized cost at December 31, 2022	$	9,886		$	33,705		$	8,166		$	300		$	52,057

	Capitalized Software development costs			Customer relationship			Acquired technology			Others			Total

Cost:
Balance as of January 1, 2023	$	93,057		$	93,134		$	20,048		$	584		$	206,823
Capitalized development costs		3,183			-			-			-			3,183
Acquisition of subsidiaries		-			7,704			-			1,706			9,410
Adjustments arising from translating financial statements of foreign operations		(32	)		(1,172	)		(332	)		(13	)		(1,549	)

Balance as of December 31, 2023		96,208			99,666			19,716			2,277			217,867

Accumulated amortization and impairment:
Balance as of January 1, 2023	$	83,171		$	59,429		$	11,882		$	284		$	154,766
Amortization recognized in the year		3,545			7,925			1,712			291			13,473
Adjustments arising from translating financial statements of foreign operations		-			(864	)		(163	)		(3	)		(1,030	)

Balance as of December 31, 2023		86,716			66,490			13,431			572			167,209

Amortized cost at December 31, 2023	$	9,492		$	33,176		$	6,285		$	1,705		$	50,658

During the years ended December 31, 2021, 2022 and 2023 the Company recognized amortization expenses related to intangible assets as follows:

	Year ended December 31,
	2021		2022		2023
Cost of revenues	$	6,068	$	5,405	$	5,471
Selling and marketing expenses		6,968		8,169		8,002
	$	13,036	$	13,574	$	13,473

Intangible assets composition by reportable segment as of December 31, 2023:

	IT professional services		Software services		Total
Capitalized Software development costs	$	788	$	8,704	$	9,492
Customer relationship		24,517		8,659		33,176
Acquired technology		1,439		4,846		6,285
Others		1,487		218		1,705
Total	$	28,231	$	22,427	$	50,658

The estimated future amortization expense of intangible assets as of December 31, 2023 is as follows: