An "intangible asset" is an asset that has a significant value but has no physical presence and provides a company with long-term financial value. Identifiable intangible assets are those that can be individually marketed by the business, can be separated from other assets, and can be identified. Identification of intangible assets includes things like intellectual property like patents, trademarks, and copyrights as well as non-cash government grants like broadcasting licenses or airport landing rights. A trademark is a sign that can be used to distinguish one company's goods or services from those of other businesses. For trademarks, intellectual property rights offer protection. Intangible assets are capitalized at fair value as of the date of acquisition rather than cost when acquired separately.
ACI Worldwide’s gross value of intangible assets surged from $584.7 million in FY2020 to $592.0 million in FY2021, an increase of 1.2%. In FY2021, the company's net value of intangible assets was $531.8 million. Software and trademarks & trade names accounted for $568.1 million and $23.8 million respectively, based on the company's calculation of the fair value of identified intangible assets. The company's amortization expense for intangible assets was $112.5 million in FY2021.
As of December 31, 2021, and 2020, the company’s intangible assets, excluding goodwill, and net of accumulated amortization, were $283 million and $322 million, respectively. The company’s goodwill was $1.3 billion as of FY2021. License revenue increased by $73 million or 30%, during FY2021, as compared to the same period in 2020. The increase in license revenue was primarily driven by renewal timing and the relative size of license and capacity events.
The Company’s SaaS (Software-as-a-Service) arrangements allow customers to use certain software solutions in a single-tenant cloud environment on a subscription basis. PaaS (Platform-as-a-Service) arrangements allow customers to use certain software solutions in a multi-tenant cloud environment on a subscription or consumption basis. SaaS and PaaS revenue increased by $5.2 million or 1%, during FY2021, as compared to the same period in 2020. The impact of certain foreign currencies strengthening against the U.S. dollar resulted in a $3.1 million increase in SaaS and PaaS revenue during FY2021.
The company’s trademarks and trade names decline from $24.1 million in FY2020 to $23.8 million in FY2021. ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay, and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc.
ACI Worldwide Inc (ACI) offers real-time electronic payment and banking solutions. The company develops, markets, installs, and supports software products and services related to electronic payments. It offers a wide array of solutions such as payment infrastructure, retail banking and payments, transaction banking and wholesale payments, merchant retail, payment risk management, and bill payment solutions to its customers. ACI provides its products and services to various industries such as airlines, utilities, automotive, financial institutions, and others. It also provides fraud detection and trade finance services.
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