Nayax to acquire VMtecnologia

Nayax announced a definitive agreement to acquire VMtecnologia, a technology provider for the automated self-service industry in Brazil. VMtecnologia’s footprint includes over 2,400 retailers in diverse industries across all 27 states in Brazil and more than 466 cities. The purchase price, equating to an enterprise value of approximately $22.3M, will be paid partially upfront in cash of $13.4M, with $8.9M to be settled semi-annually over the next three years in cash or equity, contingent upon management retention and achieving certain revenue growth over a three-year period. In addition, there is an earnout of up to $5.6M payable primarily in stock based on the achievement of significant three-year growth objectives, bringing the total potential consideration to $27.8M. The transaction is slated for completion in Q2. VMtecnologia’s financial performance includes $8.5M in revenue, a gross margin of 88%, and an EBITDA margin exceeding 30%, with a CAGR of approximately 73% between 2021 and 2023. Nayax intends to fund the initial payment with available cash reserves.