In October 2021, we acquired Accurics. Accurics delivers cloud-native security for DevOps and security teams. This acquisition expanded our broader cloud strategy to include the holistic assessment and automated remediation of policy violations and breach paths before the infrastructure is provisioned and throughout its lifecycle. We acquired 100% of the equity in exchange for cash consideration of $160.0 million, net of cash acquired of $9.6 million.

In April 2021, we acquired Alsid, which expanded our product offerings to include active directory security. Active directory is the basis for managing user permissions across on-premises and hybrid cloud deployments and is foundational to the security of cloud workloads, security remote work, and adopting zero trust architectures. Through a share purchase agreement, we acquired 100% of Alsid's equity in exchange for cash consideration of $98.5 million, net of cash acquired of $3.3 million.


(in thousands)	Accurics		Alsid
Accounts receivable	$	180	$	4,105
Prepaid expenses and other assets	341		2,304
Intangible assets	33,390		31,400
Goodwill	134,909		72,291
Accounts payable, accrued expenses and accrued compensation	(719)		(3,794)
Deferred revenue	(188)		(3,699)
Deferred tax liabilities, net	(7,937)		(4,118)
Total purchase price allocation	$	159,976	$	98,489

We are still finalizing the allocations of the purchase price, which may change as additional information becomes available related to acquired intangible assets, working capital and income taxes for Accurics and income taxes for Alsid.

Acquired intangible assets and their estimated useful lives at the date of acquisition are as follows:


	Accurics			Alsid
(dollars in thousands)	Cost		Estimated Useful Life	Cost		Estimated Useful Life
Acquired technology	$	33,300	10 years	$	31,300	7 years
Trade name	90		2 years	100		1 year
Acquired intangible assets	$	33,390		$	31,400

The results of operations of Accurics and Alsid are included in our consolidated statements of operations from the acquisition date and were not material. Pro forma results of operations are not presented as they are not material to the consolidated statements of operations.

In 2021 and 2020, we recognized acquisition-related transaction costs, primarily in general and administrative expense, of $6.9 million and $0.3 million, respectively. In 2019, we recognized acquisition-related transaction costs of $4.0 million, including $2.1 million of expense related to the intercompany transfer of intellectual property.


(in thousands)
Balance at December 31, 2020	$	54,414
Acquired goodwill	207,200
Balance at December 31, 2021	$	261,614

The excess purchase consideration over the fair value of acquired assets and liabilities is recorded as goodwill. The acquired goodwill reflects the synergies we expect from marketing and selling these new capabilities from Accurics and Alsid to our customers. The acquired goodwill is not tax deductible.


	December 31, 2021						December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Acquired technology	$	81,924	$	(10,499)	$	71,425	$	17,325	$	(4,224)	$	13,101
Trade name	390		(279)		111		200		(108)		92
	$	82,314	$	(10,778)	$	71,536	$	17,525	$	(4,332)	$	13,193

Amortization of acquired intangible assets was $6.4 million, $2.3 million, and $0.6 million in 2021, 2020 and 2019, respectively. At December 31, 2021, our acquired intangible assets are expected to be amortized over an estimated weighted average period of 7.7 years.


(in thousands)
Year ending December 31,
2022	$	9,907
2023	10,049
2024	10,016
2025	10,016
2026	9,831
Thereafter	21,717
Total	$	71,536