XML 39 R27.htm IDEA: XBRL DOCUMENT v3.22.4

BUSINESS COMBINATIONS (Tables)

12 Months Ended

Dec. 31, 2022

LCR-Dixon

Business combinations

Schedule of purchase price

​

​	​	​	​
​	​	As of Acquisition Date
Cash consideration	​	$	60,038
Fair value of deferred purchase consideration	​	​	39,024
Total	​	$	99,062

​

Schedule of purchase price to assets acquired and liabilities assumed

​

​	​	​	​
​	​	As of Acquisition Date
Cash and cash equivalents	​	$	1,899
Accounts receivable	​	​	1,586
Prepaid expenses and other current assets	​	​	150
Property and equipment	​	​	4
Capitalized software	​	​	7,700
Goodwill	​	​	86,639
Other intangibles	​	​	6,500
Accounts payable	​	​	(19)
Accrued expenses	​	​	(202)
Accrued compensation	​	​	(1,746)
Deferred income tax liability	​	​	(3,630)
Deferred revenue	​	​	(71)
Total	​	$	98,810

​

Schedule of acquired intangible assets

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

September 22, 2021

LCR-Dixon Identifiable Intangibles

​

Balance Sheet Location

​

​

Fair Value

​

Valuation Methodology

​

Estimated Useful Life

​

Discount Rate

​

Trade name

​

Goodwill and other intangible assets (Note 9)

​

$

200

​

Relief from royalty method - income approach

​

6 months

​

20.0

%

Customer relationships

​

Goodwill and other intangible assets (Note 9)

​

$

6,300

​

Excess earnings method - income approach

​

3 years

​

20.0

%

Developed technology

​

Property and equipment, net (Note 6)

​

$

7,700

​

Relief from royalty method - income approach

​

3 years

​

20.0

%

​

Taxamo

Business combinations

Schedule of purchase price

​

​	​	​	​
​	​	May 12, 2021
Cash paid at closing	​	$	190,153
Fair value of acquisition holdback	​		502
Fair value of the Option	​	​	10,034
Total	​	$	200,689

​

Schedule of purchase price to assets acquired and liabilities assumed

​

​	​	​	​
​	​	May 12, 2021
Cash and cash equivalents	​	$	2,441
Funds held for customers	​	​	221
Accounts receivable	​	​	2,657
Prepaid expenses and other current assets	​	​	908
Property and equipment	​		40,792
Goodwill	​	​	164,199
Other intangibles	​	​	1,581
Accounts payable	​	​	(304)
Accrued expenses	​	​	(1,395)
Accrued compensation	​	​	(3,939)
Deferred revenue	​	​	(2,196)
Deferred other income	​	​	—
Deferred other liabilities	​	​	(4,276)
Total	​	$	200,689

​

Schedule of acquired intangible assets

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

May 12, 2021

Taxamo Identifiable Intangibles

​

Balance Sheet Location

​

​

Fair Value

​

Valuation Methodology

​

Estimated Useful Life

​

Discount Rate

​

Developed technology

​

Property and equipment, net (Note 6)

​

$

40,746

​

Multi-period excess earnings method - income approach

​

3 years

​

16.5

%

Trade name

​

Goodwill and other intangible assets (Note 9)

​

$

608

​

Relief from royalty method - income approach

​

2 years

​

16.5

%

Customer relationships

​

Goodwill and other intangible assets (Note 9)

​

$

973

​

Distributor method - income approach

​

2 years

​

16.5

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Tellutax

Business combinations

Schedule of purchase price

​

​	​	​	​
​	​	January 25, 2021
Capitalized software - developed technology	​	$	3,600
Goodwill	​		4,700
Total	​	$	8,300

​

Systax

Business combinations

Schedule of purchase price

​

​	​	​	​
​	​	January 7, 2020
Cash paid to Systax Quotaholders at closing	​	$	11,626
Cash held in escrow for benefit of Systax Quotaholders	​		748
Initial cash consideration	​	​	12,374
Purchase Commitment Liability	​		12,592
Total	​	$	24,966

​

Schedule of purchase price to assets acquired and liabilities assumed

​

​	​	​	​
​	​	January 7, 2020
Cash	​	$	56
Accounts receivable	​	​	495
Property and equipment	​		112
Other current assets	​		14
Goodwill	​		21,089
Other intangible assets	​	​	3,650
Accounts payable	​		(358)
Accrued expenses	​	​	(92)
Total	​	$	24,966

​

X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:	us-gaap_BusinessAcquisitionLineItems
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of goodwill in a business combination.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=120321790&loc=d3e6927-128479

+ Details

Name:	us-gaap_BusinessCombinationSegmentAllocationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275

+ Details

Name:	us-gaap_ScheduleOfFiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472

+ Details

Name:	us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_BusinessAcquisitionAxis=verx_LcrDixonCorporationMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_BusinessAcquisitionAxis=verx_TaxamoMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_BusinessAcquisitionAxis=verx_TellutaxMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_BusinessAcquisitionAxis=verx_SystaxSistemasFiscaisLtdaMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: