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Intangible assets, net (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure of reconciliation of changes in intangible assets and goodwill [abstract]

Summary of Reconciliation of Changes in Intangible Assets and Goodwill


	Software			Trademark			Intellectual Property			Customer relationship			Goodwill			Others			Total
At December 31, 2019		1,665			—			2,462			2,310			11,941			—			18,378

Acquisitions of subsidiary (note 3)		—			—			729			—			380			—			1,109
Disposals/write-downs		—			—			—			—			(117	)		—			(117	)
Amortization		(227	)		—			(154	)		(429	)		—			—			(810	)
Exchange rate effect		(284	)		—			(562	)		(302	)		(2,319	)		—			(3,467	)

At December 31, 2020		1,154			—			2,475			1,579			9,885			—			15,093

Acquisitions (i)		—			—			—			—			—			368			368
Acquisitions of subsidiary (note 3)		1,519			220			—			6,781			12,535			145			21,200
Amortization		(463	)		(12	)		(394	)		(1,100	)		—			(37	)		(2,006	)
Exchange rate effect		(426	)		(13	)		(134	)		404			(822	)		(20	)		(1,011	)

At December 31, 2021		1,784			195			1,947			7,664			21,598			456			33,644

(i)

On August 04, 2021, the Group signed a share purchase agreement to acquire Guava Desenvolvimento De Software LTDA. - ME (“Guava”), which was merged into VTEX BRA on December 15, 2021. The agreement has the primary purpose of obtaining access to Guava’s key employees for the VTEX design and software teams. The value attributed to the assembled workforce intangible asset should include the value of that workforce’s skills.