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Goodwill and Acquired Intangible Assets (Tables)
9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Carrying Amount of Goodwill by Reportable Segment Changes in the carrying amount of goodwill by reportable segment through September 30, 2023 were as follows (in thousands):

 

 

Enterprise Solutions

 

 

SMB Solutions

 

 

Total

 

Balance as of December 31, 2022

 

$

218,658

 

 

$

207,019

 

 

$

425,677

 

Goodwill acquired

 

 

 

 

 

12,804

 

 

 

12,804

 

Goodwill divested

 

 

(15,075

)

 

 

 

 

 

(15,075

)

Balance as of September 30, 2023

 

$

203,583

 

 

$

219,823

 

 

$

423,406

 

Schedule of Acquired Intangible Assets

Acquired intangible assets of the Company consisted of the following (in thousands):

 

 

 

 

 

September 30, 2023

 

 

 

Weighted Average
Useful Life

 

 

Gross Carrying Value

 

 

Accumulated Amortization

 

 

Net Carrying Value

 

 

 

(in years)

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

 

10.0

 

 

$

81,643

 

 

$

(35,393

)

 

$

46,250

 

Developed technology

 

 

6.9

 

 

 

41,044

 

 

 

(26,641

)

 

 

14,403

 

Trade names

 

 

5.0

 

 

 

5,551

 

 

 

(5,050

)

 

 

501

 

Other

 

 

1.0

 

 

 

370

 

 

 

(62

)

 

 

308

 

Total

 

 

 

 

$

128,608

 

 

$

(67,146

)

 

$

61,462

 

 

 

 

 

 

 

December 31, 2022

 

 

 

Weighted Average
Useful Life

 

 

Gross Carrying Value

 

 

Accumulated Amortization

 

 

Net Carrying Value

 

 

 

(in years)

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

 

10.0

 

 

$

82,841

 

 

$

(31,344

)

 

$

51,497

 

Developed technology

 

 

7.0

 

 

 

42,913

 

 

 

(23,463

)

 

 

19,450

 

Trade names

 

 

5.0

 

 

 

5,824

 

 

 

(4,452

)

 

 

1,372

 

Total

 

 

 

 

$

131,578

 

 

$

(59,259

)

 

$

72,319

 

Schedule of Future Estimated Amortization Expense of Intangible Assets Future estimated amortization expense of the Company’s intangible assets as of September 30, 2023 is expected to be as follows (in thousands):

Remainder of 2023

 

$

3,974

 

2024

 

 

14,656

 

2025

 

 

13,939

 

2026

 

 

9,177

 

2027

 

 

8,164

 

Thereafter

 

 

11,552

 

Total

 

$

61,462