Airspan Networks Holdings Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

GOODWILL AND INTANGIBLE ASSETS, NET

GOODWILL AND INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

8.	GOODWILL AND INTANGIBLE ASSETS, NET

The Company has goodwill of $13.6 million resulting from its acquisition of Mimosa Networks, Inc. (“Mimosa”) in November 2018.

Intangible assets, net consists of the following (in thousands):

Schedule of Intangible assets, net
	Weighted	December 31, 2022
	Average Useful Life (in years)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Internally developed technology	10	$	7,810	$	(3,189	)	$	4,621
Customer relationships	6		2,130		(1,449	)		681
Trademarks	2		720		(720	)		-
Non-compete	3		180		(180	)		-
Total acquired intangible assets		$	10,840	$	(5,538	)	$	5,302

	Weighted	December 31, 2021
	Average Useful Life (in years)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Internally developed technology	10	$	7,810	$	(2,408	)	$	5,402
Customer relationships	6		2,130		(1,094	)		1,036
Trademarks	2		720		(720	)		-
Non-compete	3		180		(180	)		-
Total acquired intangible assets		$	10,840	$	(4,402	)	$	6,438

The Company’s intangible assets include internally developed technology, customer relationships, trademarks and non-compete agreements. Amortization expense related to the Company’s intangible assets amounted to $1.1 million and $1.2 million for the years ended December 31, 2022 and 2021, respectively.

Estimated amortization expense for the next five years and thereafter related to the Company’s intangible assets is as follows (in thousands):


2023	$	1,136
2024		1,107
2025		781
2026		781
2027		781
Thereafter		716
Total	$	5,302