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 said.
The deal will support Nayax's 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 address emerging markets seeking digital upgrades, it added.
Combining UPPay with Nayax and VMtecnologia strengthens Nayax's 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 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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.