Nayax enters definitive agreement to acquire VMtecnologia, expanding into Latin America

March 7, 2024
Nayax announced its strategic acquisition of VMtecnologia, a leading technology provider for the automated self-service industry in Brazil.

Nayax Ltd., a leading global commerce enablement, payments and loyalty platform designed to help merchants scale their business, announced a definitive agreement to acquire VMtecnologia, a leading technology provider for the automated self-service industry in Brazil. This strategic acquisition marks a significant step in Nayax's expansion into the Latin American market, bolstering its global footprint.

The acquisition of VMtecnologia will extend Nayax's comprehensive service offerings across Brazil and will serve as a key milestone in fulfilling the company's international expansion growth strategy. By entering the Latin American market with a strong and immediate market presence, Nayax is poised to leverage VMtecnologia's established footprint, serving over 2,400 retailers in diverse industries across all 27 states in Brazil and more than 466 cities. This strategic move significantly enhances Nayax's global presence and its ability to offer advanced automated self-service solutions.

With this expansion, Nayax will now serve over 18,300 additional unattended points of sale, including vending machines, micro markets, autonomous laundromats and the electronic entertainment sector. The integration is anticipated to immediately contribute to Nayax's net income, underlining the strategic fit and potential for growth the acquisition represents. The purchase price equates to an enterprise value of approximately $22.3 million.

Yair Nechmad, CEO and chairman of Nayax, said in the announcement: “We are excited to integrate VMtecnologia’s experienced and innovative team with Nayax, further solidifying our position in the automated self-service market. VMtecnologia’s outstanding performance and leadership in Brazil align perfectly with our strategic goals, promising a highly synergistic merger. The Brazilian automated self-service market follows the strong growth trend of the global automated self-service industry. Brazil itself is an attractive market with significant potential for our self-service technology. This acquisition immediately expands Nayax’s targeted addressable market and significantly increases our automated self-service market penetration in Brazil and Latin America.”

Eduardo Muniz, CEO of VMtecnologia, added in the announcement: “This deal is a recognition of what we have built here in Brazil. It is the fuel that can drive us to deliver even more products to our customers, quickly and efficiently. With Nayax, we will have an expansion of self-service in Latin America, adding expertise in payments and a portfolio of products. The entire M&A process took place with the great support from Pipeline Capital, which was responsible for structuring the fundraising project, helping us throughout the entire process, from the conversation with interested parties to the final stage of signing the deal.”

Synergies are expected from the integration of VMtecnologia into Nayax's ecosystem, enhancing both revenue and operational efficiencies. Anticipated transaction closure in Q2 2024, subject to customary closing conditions.



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