Goodwill and Acquired Intangible Assets

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Acquired Intangible Assets

Goodwill and Acquired Intangible Assets

On December 2, 2019, we acquired Indegy, Ltd and recorded $53.9 million of goodwill and $15.7 million of intangible assets. We have not yet finalized the allocation of the purchase price, which may change as additional information becomes available related to any working capital adjustment and income taxes.

Acquired intangible assets subject to amortization are as follows:

	September 30, 2020						December 31, 2019
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Acquired technology	$	17,325	$	(3,670)	$	13,655	$	17,325	$	(2,009)	$	15,316
Trade name	200		(84)		116		200		(8)		192
	$	17,525	$	(3,754)	$	13,771	$	17,525	$	(2,017)	$	15,508

Amortization of acquired intangible assets was $0.5 million, $0.1 million, $1.7 million and $0.4 million in the three months ended September 30, 2020 and 2019 and the nine months ended September 30, 2020 and 2019, respectively.

At September 30, 2020, estimated future amortization of acquired intangible assets is as follows:

(in thousands)
Year ending December 31,
2020(1)	$	577
2021	2,306
2022	2,214
2023	2,214
2024	2,214
Thereafter	4,246
Total	$	13,771

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(1)    Represents the three months ending December 31, 2020.