Nayax Ltd., a prominent commerce and payment solutions provider, has successfully completed the acquisition of VMtecnologia as of April 30, 2024.
This acquisition introduces Nayax to the Brazilian market, where VMtecnologia is a recognized leader in automated self-service technology, boasting significant operations across 466 cities.
The transaction, initially valued at approximately $22 million, could rise to $27 million with performance-based earnouts. Nayax’s investment includes an upfront payment of $13 million in cash, complemented by subsequent payments linked to business milestones.
VMtecnologia’s financial health, highlighted by an 88% gross margin and 73% CAGR from 2021 to 2023, forecasts promising synergies post-acquisition.
Nayax’s CEO, Yair Nechmad, emphasized the strategic importance of this expansion into Latin America, underscoring the integration of advanced payment technologies and consumer loyalty solutions.
Eduardo Muniz, CEO of VMtecnologia, echoed this sentiment, noting the combined potential to elevate service offerings across their expansive retailer network.
The acquisition promises enhanced operational efficiencies and expanded product lines, ensuring a robust foothold in the Latin American markets for Nayax.