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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
 6 Months Ended
Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Change in Carrying Amount of Goodwill
The change in the carrying amount of goodwill was:
(in thousands)
Six Months Ended  
June 30, 2019
Balance as of January 1,
$
72,858

Acquisition (1)
6,179

Currency translation adjustments
—

Balance as of June 30,
$
79,037


(1) In May 2019, the Company acquired In the Chat Communications Inc., a privately-held software provider of digital customer service software for $10.9 million, net of cash acquired. The Company also expects to issue up to approximately 15 thousand shares in retention-based bonus payments to a key employee upon the achievement of specified retention milestones. The principal assets and liabilities acquired as part of the business combination were additional goodwill and technology intangibles assets of $6.2 million and $5.1 million. The allocation of the purchase price is preliminary for income taxes as the Company is still gathering information.
Schedule of Amortizable Intangible Assets
Intangible assets are recorded at cost and amortized using the straight-line method over their estimated useful lives as follows:
 
 
 
June 30, 2019
(in thousands)
Useful Lives
 
Cost
 
Accumulated
Amortization
 
Net Book Value (1)
Client-related intangibles
4-10 years
 
$
63,115

 
$
(53,608
)
 
$
9,507

Technology
2-10 years
 
64,843

 
(52,605
)
 
12,238

Other
1 - 5 years
 
5,361

 
(5,361
)
 
—

 
 
 
$
133,319

 
$
(111,574
)
 
$
21,745

(1) Included in other long-term assets.
 
 
 
December 31, 2018
(in thousands)
Useful Lives
 
Cost
 
Accumulated Amortization
 
Net Book Value (1)
Client-related intangibles
4-10 years
 
$
63,115

 
$
(51,224
)
 
$
11,891

Technology
2-10 years
 
59,742

 
(50,398
)
 
9,344

Other
1 - 5 years
 
5,361

 
(5,361
)
 
—

 
 
 
$
128,218

 
$
(106,983
)
 
$
21,235

(1) Included in other long-term assets.
Amortization of Intangible Assets
Amortization of intangible assets was:
(in thousands)
Three Months Ended  
June 30,
 
Six Months Ended  
June 30,
2019
 
2018
 
2019
 
2018
Cost of revenue
$
875

 
$
1,231

 
$
2,207

 
$
2,463

Selling and marketing
781

 
1,605

 
2,385

 
3,210

 
$
1,656

 
$
2,836

 
$
4,592

 
$
5,673