Exclusive financial advisor to VMtecnologia in its sale to Nayax

Nayax completes acquisition of VMtecnologia

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Acquisition immediately accelerates Nayax’s expansion into the Latin American market with an established partner and one of Brazil’s market leaders in automated self-service

HERZLIYA, Israel, April 30, 2024Nayax Ltd. (Nasdaq: NYAX; TASE: NYAX), a leading global commerce enablement, payments, and loyalty platform designed to help merchants scale their business, today announced it has completed its acquisition of VMtecnologia, a leading technology provider for the automated self-service payments industry in Brazil.

The transaction was advised by Pipeline Capital.

This strategic acquisition, first announced in March, marks a significant step in Nayax’s expansion into the Latin American market. By entering this market with a strong and immediate market presence, Nayax is poised to leverage VMtecnologia’s established position, serving over 2,400 retailers in diverse industries across all 27 states in Brazil and more than 466 cities as of the end of February 2024.

Alon Sochaczewski, founder and CEO of Pipeline Capital, the company responsible for financial advisory, states: “The end-to-end platform market is evolving rapidly, driven by the need for seamless integration of management and payment solutions. VM is at the forefront of this transformation, demonstrating unparalleled expertise in streamlining complex processes. This deal is evidence of the robust growth and potential of intelligent retail solutions, and we at Pipeline Capital are excited to have guided this historic transaction.”

“The completion of the VMtecnologia acquisition marks a significant milestone in Nayax’s strategic expansion into Latin America, particularly in Brazil. Leveraging our nearly two decades of expertise in the payments industry, we are committed to enhancing the Brazilian market with innovative solutions and are excited about further deepening our presence in this key region over the coming years. Under VMtecnologia CEO Eduardo Muniz’s seasoned leadership, we are poised to make substantial advancements in the automated self-service payments space,” says Yair Nechmad, Nayax Chief Executive Officer and Chairman of the Board.

“Joining forces with Nayax represents a transformative step for our growth in Brazil. With today’s strategic partnership, we transition into a new era where we are firmly backed by the global leader in automated self-service payments. Nayax’s cutting-edge technology and expertise in payments will propel us into the next phase of our expansion. We are eager to introduce our customers to a broader range of products, diversified payment options, and enhanced consumer loyalty programs,” says Eduardo Muniz, Chief Executive Officer of VMtecnologia.

Transaction details

  • Enterprise Value (EV) of R$ 110 million (~US$ 22 million), cash-free, debt-free, with an additional earnout, raising the potential of the transaction to R$ 137.5 million (~US$ 27 million).
  • Nayax financed the initial payment with available cash reserves.
  • Synergies are expected from the integration of VMtecnologia into Nayax’s ecosystem, enhancing both revenue and operational efficiencies.

Advisors

Pipeline Capital is serving as financial advisor and Gentil Monteiro, Vicentini, Beringhs e Gil (GVBG) is serving as legal advisor to VMtecnologia. Baptista Luz is serving as legal advisor to Nayax.

About Nayax

Nayax is a global commerce enablement, payments and loyalty platform designed to help merchants scale their business. Nayax offers a complete solution including localized cashless payment acceptance, management suite, and loyalty tools, enabling merchants to conduct commerce anywhere, at any time. With foundations and global leadership in serving unattended retail, Nayax has transformed into a comprehensive solution focused on our customers’ growth across multiple channels. Today, Nayax has nine global offices, approximately 900 employees, connections to more than 80 merchant acquirers and payment method integrations and is a recognized payment facilitator worldwide. Nayax’s mission is to improve our customers’ revenue potential and operational efficiency. For more information, please visit www.nayax.com.

About VMtecnologia

VMtecnologia is services the unattended retail market with easy-to-use, proprietary, and secure technology, embedded in plug-and-play equipment so that entrepreneurs can grow and scale their business. VMtecnologia’s solution simplifies and enables the operation of small, medium, and large autonomous Brazilian stores, with, approximately 130 employees. For more information, please visit www.vmtecnologia.io/.

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