Nayax Strengthens Presence in Brazil with UPPay Acquisition
Deal News | Feb 28, 2025 | Globenewswire
Nayax Ltd., a globally recognized commerce enablement and payments platform, has announced its acquisition of UPPay, a leading digital payment and telemetry services provider for automated self-service coffee machines in Brazil. This acquisition, valued at R$ 32.75 million BRL (~$5.3 million USD), is a strategic move to expand Nayax's footprint in Brazil and access new market opportunities across Latin America. The purchase will be made using cash on hand, inclusive of an earnout potential of $2.75 million. UPPay is noted for its economical and scalable telemetry solutions that are ideal for self-service environments, making this acquisition a valuable addition to Nayax’s portfolio as it integrates the operations with VMtecnologia. The consolidation aims to drive innovation, enhance solution offerings, and achieve substantial market penetration, particularly in the lucrative automated self-service coffee sector. Nayax, having entered the Brazilian market with the acquisition of VMtecnologia in 2024, is poised to leverage UPPay's capabilities to deliver extensive payment, telemetry, and operational services to a broader array of retailers.
Sectors
- Payments and Financial Services
- Technology and Telecommunications
- Retail and Consumer Goods
Geography
- Brazil – The target company UPPay and existing subsidiary VMtecnologia operate within Brazil, and the acquisition aims to strengthen Nayax’s market position there.
- Israel – Nayax, the acquiring company, is based in Israel, making this international expansion a significant strategic move.
Industry
- Payments and Financial Services – The acquisition involves digital payment solutions, focusing on enhancing cashless transactions within unattended retail environments.
- Technology and Telecommunications – UPPay provides innovative telemetry solutions for automated machines, integrating technology to improve operational efficiency.
- Retail and Consumer Goods – The deal targets the self-service coffee market, indicating a strategic focus on enhancing retail solutions and customer experiences.
Financials
- R$ 32.75 million BRL (~$5.3 million USD) – The enterprise value of the acquisition of UPPay by Nayax, which includes a potential earnout of $2.75 million USD.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nayax Ltd. | Acquiring Company | Company | A global commerce enablement and payments platform, known for innovative payment solutions aimed at scaling business operations. |
| UPPay | Target Company | Company | A provider of digital payment and telemetry solutions for automated coffee machines, known for its cost-effective and scalable technology. |
| VMtecnologia | Subsidiary | Company | Acquired by Nayax in 2024, it provides technology solutions for the self-service industry in Brazil, enhancing Nayax’s operational integration post-acquisition. |
| Yair Nechmad | CEO and Chairman of Nayax | Person | Leader of Nayax overseeing strategic growth initiatives including acquisitions to strengthen the company’s market presence. |
| Eduardo Muniz | CEO of VMtecnologia | Person | Leads VMtecnologia, a key player in Nayax’s efforts to expand its payment and telemetry services across Latin America. |
| Founders of UPPay | Source | People | Responsible for positioning UPPay as a leading provider in Brazil’s automated retail sector. |