Nayax Ltd ( NYAX ). , a global commerce enablement and payments platform, has acquired UPPay, a digital payment and telemetry provider for automated self-service coffee machines in Brazil.

The purchase price, equating to an enterprise value of R$32.75 million (~$5.3 million), will be paid with cash on hand and includes the earnout amount of up to ~$0.47 million.

Nayax ( NYAX ) entered the Brazilian market in 2024 when it acquired VMtecnologia, a technology provider for the automated self-service industry in Brazil. With the acquisition of UPPay, Nayax ( NYAX ) and VMtecnologia will serve more than 25,000 new unattended points of sale in Brazil.

UPPay will integrate operationally with VMtecnologia, consolidating both companies’ sales, distributional, and technical expertise.

This strategic acquisition strengthens Nayax’s foothold in the Brazilian market and broadens its reach across Latin America, offering merchants a comprehensive suite of affordable payment solutions.

“UPPay’s sophisticated yet affordable platform complements our vision of empowering retailers of all sizes with real-time operational insights, streamlined payments, and seamless customer experiences,” stated Yair Nechmad, CEO and Chairman of Nayax ( NYAX ).

As of September 30, 2024, the company had $89 million in cash and cash equivalents and short-term deposits. 

Nayax ( NYAX ) will release its fourth quarter and 2024 earnings on March 4, 2025.

Price Action: NYAX shares traded lower by 1.12% at $37.24 at last check Friday.