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Nayax acquires VMtecnologia, following expansion plans for LatAm

Nayax Ltda global commerce, payment and loyalty platform, has officially completed the acquisition of VMtecnologiathe Brazil-based technology provider for the automated self-service industry.

This strategic acquisition, first announced in March, marks Nayax’s expansion into the Latin American market; to leverage VMtecnologia’s long-standing position in the region. As of February 2024, VMtecnologia served more than 2,400 retailers in all 27 states of Brazil and more than 466 cities.

Founded in 2011, VMtecnologia provides plug-and-play solutions for self-service points of sale, providing an end-to-end solution for small and medium-sized retailers.

Following this expansion, Nayax will now serve more than 18,300 additional unmanned points of sale, including vending machines, micro markets, autonomous laundries and the electronic entertainment sector. The deal could cost Nayax a total of around $27 million (R$137.5 million BR).

Jair Nechmad, CEO and Chairman of the Board of Directors of Nayax, commented: “Leveraging our nearly two decades of expertise in the payments industry, we are committed to improving the Brazilian market with innovative solutions and are excited about further deepening our presence in this important region in the coming years. coming years. Under CEO of VMtecnologia Eduardo MunizThanks to the company’s seasoned leadership, we are poised to make substantial progress in automated self-service payments in Latin America.”

Founded in 2005, Nayax started as a provider of cash payments solutions, IoT services and management solutions for unattended retail, but quickly expanded over the following decade to countries such as China, the United Kingdom, Japan and Germany, and now serves sellers around the world.

Eduardo Muniz, CEO of VMtecnologia, also said: “Joining forces with Nayax represents a transformative step for our growth. With today’s strategic partnership, we are entering a new era where we are strongly supported by the global leader in automated self-service payments.

“Nayax’s advanced 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.”