09:14 AM EST, 02/28/2025 (MT Newswires) -- Nayax ( NYAX ) said Friday it is expanding its presence in Latin America by acquiring digital payment and telemetry provider UPPay for automated self-service coffee machines in Brazil.

The purchase price values UPPay at 32.8 million Brazilian real (roughly $5.3 million), with an earnout payment of up to $2.8 million, Nayax ( NYAX ) said.

The deal will support Nayax's ( NYAX ) reach in the Brazilian market and open opportunities across Latin America, the company said.

UPPay's technology offers scalable telemetry for self-service machines, which will help Nayax ( NYAX ) address emerging markets seeking digital upgrades, it added.

Combining UPPay with Nayax ( NYAX ) and VMtecnologia strengthens Nayax's ( NYAX ) position in Brazil's growing coffee vending sector, adding more than 25,000 new unattended points of sale, according to the company. In 2024 Nayax ( NYAX ) acquired VMtecnologia, a technology provider for the automated self-service industry in Brazil.

Upon integration, the companies intend to merge sales, distribution, and technical resources.