Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Identified Intangible Assets

v3.2.0.727
Goodwill and Identified Intangible Assets
6 Months Ended
Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Identified Intangible Assets
Goodwill and Identified Intangible Assets
The change in the carrying amount of goodwill, in thousands, for the six months ended June 30, 2015 is as follows:
Balance at January 1, 2015
$
193,378

Goodwill acquired
27,177

Balance at June 30, 2015
$
220,555


Identified intangible assets consisted of the following at June 30, 2015 and December 31, 2014:
 
 
 
June 30, 2015
 
December 31, 2014
 
Weighted Average Remaining Amortization Period
 
Carrying
Amount
 
Accumulated
Amortization
 
Net
 
Carrying
Amount
 
Accumulated
Amortization
 
Net
 
(in years)
 
(in thousands)
Finite-lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Developed technologies
3.2
 
$
69,541

 
$
(44,115
)
 
$
25,426

 
$
55,212

 
$
(39,343
)
 
$
15,869

Customer relationships
9.3
 
96,523

 
(49,416
)
 
47,107

 
86,753

 
(44,264
)
 
42,489

Vendor relationships
4.2
 
5,650

 
(5,524
)
 
126

 
5,650

 
(5,273
)
 
377

Trade names
1.0
 
83

 
(7
)
 
76

 

 

 

Total finite-lived intangible assets
6.8
 
171,797

 
(99,062
)
 
72,735

 
147,615

 
(88,880
)
 
58,735

Indefinite-lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Trade names
 
 
40,815

 

 
40,815

 
41,350

 

 
41,350

Total identified intangible assets
 
 
$
212,612

 
$
(99,062
)
 
$
113,550

 
$
188,965

 
$
(88,880
)
 
$
100,085


Amortization expense related to finite-lived intangible assets was $5.3 million and $5.1 million for the three months ended, and $10.2 million and $10.1 million for the six months ended June 30, 2015 and 2014, respectively.
In March 2015, the Company completed the integration of the InstaManager and Kigo platforms into a single solution marketed under the Kigo name. Subsequent to this integration, the Company discontinued the use of the InstaManager trade name to market or identify the software. Due to this change in circumstance, the Company evaluated the InstaManager trade name for impairment and concluded an impairment in the amount of $0.5 million existed at March 31, 2015. The charge related to this impairment is included in "General and administrative" in the accompanying Condensed Consolidated Statements of Operations.