The Company completed the acquisition of Cimetrix in the year ended December 31, 2020. Refer to Note 4 for additional information related to the goodwill and intangible assets added from this acquisition.

As of December 31, 2021 and 2020, the carrying amounts of goodwill were $14.1 million and $15.8 million, respectively. The following table summarizes goodwill transaction for the year ended December 31, 2021 and 2020 (in thousands):

(1)

Goodwill adjustment was recorded within the measurement period with a corresponding reduction in the Holdback Amount and reduction to net deferred tax liabilities. See Note 4, Business Combination.

Intangible assets balance was $21.2 million and $24.6 million as of December 31, 2021 and 2020, respectively. Intangible assets as of December 31, 2021 and 2020, consist of the following (in thousands):


		December 31, 2021						December 31, 2020
	Amortization	Gross				Net		Gross				Net
	Period	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
	(Years)	Amount		Amortization		Amount		Amount		Amortization		Amount
Acquired identifiable intangibles:
Customer relationships	1-10	$	9,407	$	(6,041)	$	3,366	$	9,407	$	(5,398)	$	4,009
Developed technology	4-9		33,635		(17,250)		16,385		30,000		(14,987)		15,013
Tradename and trademarks	2-10		1,598		(812)		786		1,598		(706)		892
Patent	7-10		1,800		(1,640)		160		1,800		(1,600)		200
Noncompetition agreements	3		848		(306)		542		848		(24)		824
In-process R&D	*		—		—		—		3,635		N/A		3,635
Total		$	47,288	$	(26,049)	$	21,239	$	47,288	$	(22,715)	$	24,573

Non-amortizing intangible asset

Developed technology includes reclassified In-process R&D asset related to Cimetrix’s Smart Manufacturing Solutions acquired in fiscal 2020 and reclassified in fiscal 2021 upon it becoming available for us.

The weighted average amortization period for acquired identifiable intangible assets was 6.8 years as of December 31, 2021. The following table summarizes intangible assets amortization expense in the Consolidated Statements of Comprehensive Loss (in thousands):



	Year ended December 31,
	2021		2020
Amortization of acquired technology included under Costs of Revenues	$	2,079	$	705
Amortization of acquired intangible assets presented separately under Costs and Expenses		1,255		741
Balance at end of year	$	3,334	$	1,446

The Company expects annual amortization of acquired identifiable intangible assets to be as follows (in thousands):


Year Ending December 31,	Amount
2022	$	3,468
2023		3,444
2024		3,046
2025		2,882
2026		2,712
2027 and thereafter		5,687
Total future amortization expense	$	21,239

There were no impairment charges for goodwill and intangible assets for the year ended December 31, 2021 and 2020.