PYMNTS MonitorEdge May 2024

Nayax to Acquire Brazilian Automated Self-Service Solutions Provider VMtecnologia

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As part of a broader push into the Latin American market, Nayax, a global commerce enablement, payments and loyalty platform, announced that it agreed to acquire VMtecnologia.

The acquisition heralds an expansion for Nayax, with VMtecnologia being a leading technology provider for Brazil’s automated self-service industry, the companies said in a Thursday (March 6) press release.

Nayax’s move will help enhance its global footprint as it extends its offerings in Latin America, according to the release.

VMtecnologia serves over 2,400 retailers across all 27 states in Brazil, so Nayax is entering the region “with a strong and immediate market presence,” the release said.

The acquisition also boosts Nayax’s unattended points of sale by over 18,300, spanning use cases from vending machines to autonomous laundromats, per the release.

With a purchase price approximating an enterprise value of $110 million Brazilian reais (about $22.3 million), Nayax structured the payment to include an upfront cash transaction of $66 million Brazilian reais ($13.4 million), alongside a deferred payment plan over the next three years, according to the release.

Additionally, an earnout of up to $27.5 million Brazilian reais ($5.6 million) based on the achievement of growth objectives could bring the total potential consideration to $137.5 million Brazilian reais ($27.8 million), the release said.

For VMtecnologia, the acquisition offers a chance to leapfrog into a wider customer base with an enriched portfolio and expertise in payments, CEO Eduardo Muniz said in the release.

Both Nayax’s and VMtecnologia’s boards unanimously approved the transaction, which is expected to be finalized in the second quarter, subject to customary closing conditions, per the release.

The announcement of this planned acquisition comes about five months after Nayax agreed to acquire point of sale (POS) software firm Retail Pro International. Nayax announced the agreement in October and completed the acquisition in November.

With the acquisition of Retail Pro International, Nayax said it would expand its global reach in attended retail and enhance its distribution network by tripling the number of POS lanes to 150,000.

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