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Intangible Assets, Net

12 Months Ended

Dec. 31, 2024

NOTE 8:- INTANGIBLE ASSETS, NET

Composition and movement:

	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

	Capitalized Software development costs			Customer relationship			Acquired technology			Others			Total

Cost:
Balance as of January 1, 2024	$	96,208		$	99,666		$	19,716		$	2,277		$	217,867
Capitalized development costs		2,650			-			-			-			2,650
Acquisition of subsidiaries		-			5,963			309			-			6,272
Measurement period adjustments		-			(441	)		(312	)		-			(753	)
Adjustments arising from translating financial statements of foreign operations		(6	)		(390	)		(74	)		(34	)		(504	)

Balance as of December 31, 2024		98,852			104,798			19,639			2,243			225,532

Accumulated amortization:
Balance as of January 1, 2024	$	86,716		$	66,490		$	13,431		$	572		$	167,209
Amortization recognized in the year		3,477			7,708			1,589			489			13,263
Adjustments arising from translating financial statements of foreign operations		-			(173	)		(41	)		(13	)		(227	)

Balance as of December 31, 2024		90,193			74,025			14,979			1,048			180,245

Amortized cost as of December 31, 2024	$	8,659		$	30,773		$	4,660		$	1,195		$	45,287

During the years ended December 31, 2022, 2023 and 2024 the Company recognized amortization expenses related to intangible assets as follows:

	Year ended December 31,
	2022		2023		2024
Cost of revenues	$	5,405	$	5,471	$	5,066
Selling and marketing expenses		8,169		8,002		8,197
	$	13,574	$	13,473	$	13,263

Intangible assets composition by asset type as of December 31, 2024:

	IT professional services		Software services		Total
Capitalized Software development costs	$	448	$	8,211	$	8,659
Customer relationship		24,034		6,739		30,773
Acquired technology		1,110		3,550		4,660
Others		1,047		148		1,195
Total	$	26,639	$	18,648	$	45,287

The estimated future amortization expense of intangible assets as of December 31, 2024 is as follows: