Nayax Ltd., a global payment and loyalty platform, has finalized the acquisition of VMtecnologia, a chief provider in Brazil’s automated self-service industry. The acquisition, initially announced in March, signifies Nayax’s strategic move into the Latin American market, utilizing VMtecnologia’s strong market presence that spans over 2,400 retailers across all Brazilian states and numerous cities. Nayax CEO Yair Nechmad emphasized this milestone as a basis for introducing innovative solutions and expanding their market presence. VMtecnologia’s CEO, Eduardo Muniz, welcomed the acquisition as a transformative growth opportunity, with Nayax’s technology set to propel VMtecnologia towards newer heights. Financial terms included an enterprise value of about $22 million, subject to cash and debt adjustments, with additional earnouts contingent on performance, potentially bringing the figure to $27 million. The transaction was completed with Nayax using their cash reserves for the initial payment, with further compensation based on VMtecnologia’s future management and revenue performance. The financial advisors for Nayax and VMtecnologia were Pipeline Capital and Gentil Monteiro, Vicentini, Beringhs, and Gil (GVBG), respectively. The joining of these entities is expected to enhance operational and revenue synergies within Nayax’s ecosystem. The release also includes forward-looking statements that reflect upon Nayax’s management beliefs and assumptions regarding the integration’s impact and future prospects in Latin America.

Financial Technology, Retail Technology, Mergers and Acquisitions,Brazil, Israel, Latin America

https://www.globenewswire.com/news-release/2024/04/30/2872814/0/en/Nayax-Completes-Acquisition-of-VMtecnologia.html