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Business combinations (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure of transactions recognised separately from acquisition of assets and assumption of liabilities in business combination [line items]

Summary of Transactions Recognised Separately from Acquisition of Assets and Assumption of Liabilities in Business Combination

The fair value amount of assets and liabilities recognized as a result of the acquisition are as follows:


	Thousands of USD
Cash and cash equivalents		1,141
Trade receivables		412
Other current assets		77
Property and equipment		58
Customer relationship (i)		6,780
Software (i)		310
Right-of-use assets (ii)		722
Accounts payable		(1,212	)
Lease liabilities		(446	)
Taxes payable		(148	)
Deferred revenue		(1,297	)
Loans and financing (iii)		(8,038	)
Other non-current liabilities		(588	)
Deferred tax liabilities (iv)		(1,548	)
Net identifiable assets acquired		(3,777	)
Add: goodwill (v)		10,707

Net assets acquired		6,930

Summary of Intangible Assets Acquired

(i)	The intangible assets acquired comprises:

Asset

Valuation Methodology

Estimated Fair Value in
thousands of U.S. dollars

Estimated useful
life in years

Customer relationship

Multi-period excess earnings method

6,780

Software

Relief from royalty method

310

Schedule of Accounts Payable from Acquisition of Subsidiaries


	December 31, 2021		December 31, 2020
Fixed installment—cash		1,470		2,049
Fixed installment—shares		—		203
Earn-out—cash		2,790		323
Earn-out—shares		—		194
Earn-out—cash or shares		—		25

Current		4,260		2,794

Fixed installment—cash		—		1,206
Earn-out—cash		2,163		—
Earn-out—share		—		—

Non-current		2,163		1,206
Total		6,423		4,000

Schedule of Payment for Acquisition of Subsidiaries

As of December 31, 2021, the outstanding balances segregated by maturity are as follows:


Date	Thousands of USD
2022		4,260
2023		2,163

		6,423

Schedule of Changes in Balance Payable from Acquisition of Subsidiaries


	2021			2020
At January 1		4,000			9,433
Addition due to acquisition—installments		1,880			—
Addition due to acquisition – earn-out		6,483			—
Payments of principal/finance charges—installments		(3,556	)		(2,242	)
Payments of principal/finance charges – earn-out		(1,378	)		(1,254	)
Fixed installments adjustment		44			—
Earn-out adjustment		(785	)		(724	)
Accrued interest and others		62			679
Exchange rate differences		(327	)		(1,892	)
At December 31		6,423			4,000

Escuela De Internet [Member]

Disclosure of transactions recognised separately from acquisition of assets and assumption of liabilities in business combination [line items]

Summary of Transactions Recognised Separately from Acquisition of Assets and Assumption of Liabilities in Business Combination

The assets and liabilities recognized as a result of the acquisition are as follows:


	Thousands of USD
Cash and cash equivalents		20
Trade receivables		4
Prepaid expenses		13
Recoverable taxes		177


Property and equipment, net	12
Intellectual property	729
Deferred tax liabilities	(219	)
Accounts payable	(373	)
Loans and Financing	(164	)

Taxes payable	(316	)

Net identifiable assets acquired	(117	)
Add: goodwill	117

Net assets acquired	—

Write-off intangible acquired	(117	)

Net assets acquired adjusted	(117	)

Summary of Intangible Assets Acquired

The intangible assets acquired comprises:

Asset

Valuation Methodology

Estimated Fair Value in
thousands of U.S. dollars

Estimated useful life in
years

Intellectual property

Relief from Royalties

729

Schedule of Purchase Consideration Cash Outflow


Outflow of cash to acquire subsidiary, net of cash acquired	In thousands of USD
Cash consideration		—
Less: Balances acquired
Cash		20

Net inflow of cash – investing activities		20


Outflow of cash to acquire subsidiary, net of cash acquired	Thousands of USD
Cash consideration		209
Less: Balances acquired		—
Cash		(1,141	)

Net outflow of cash – investing activities		(932	)


Outflow of cash to acquire subsidiary, net of cash acquired	Thousands of US$
Cash consideration		1,816
Less: Balances acquired		—
Cash		(106	)

Net outflow of cash – investing activities		1,710

Work Area [Member]

Disclosure of transactions recognised separately from acquisition of assets and assumption of liabilities in business combination [line items]

Summary of Detailed Information about Business Combination

Details of purchase consideration are as follows:


	Thousands of USD
Amount paid in cash at the acquisition date (i)		209
Amount paid in installments in cash		465
Amount of earn-out to be paid in cash		6,256

Total consideration		6,930

Suiteshare [Member]

Disclosure of transactions recognised separately from acquisition of assets and assumption of liabilities in business combination [line items]

Summary of Transactions Recognised Separately from Acquisition of Assets and Assumption of Liabilities in Business Combination

The fair value amount of assets and liabilities recognized as a result of the acquisition are as follows:


	Thousands of USD
Cash and cash equivalents		106
Property and equipment		4
Client portfolio		1
Trademark		220
Non-compete clause		145
Software		1,209
Accounts payable		(46	)
Taxes payable		(9	)
Net identifiable assets acquired		1,630
Add: goodwill		1,828

Net assets acquired		3,458

Summary of Detailed Information about Business Combination

Details of the purchase consideration are as follows:


	Thousands of US$
Amount paid in cash at the acquisition date (i)		1,816
Amount paid in shares		1,264
Amount paid in installments		151
Amount of earn-out to be paid in cash (ii)		227

Total consideration		3,458

(i)	US$ 1,816 was paid on the acquisition date directly to the sellers.

(ii)	According to the sales and purchase agreement (“SPA”), the seller could receive a maximum earn-out of US$ 1,699 which will be calculated and paid based on the Annual Recurring Revenue of Suiteshare.