Nayax, a renowned global commerce enablement platform that offers payment and loyalty solutions, is set to acquire Retail Pro International, a leading name in the retail Point of Sale software sector, celebrated for its affiliation with top-tier global brands.
The strategic acquisition aims to bolster Nayax’s position in the attended retail domain, tripling its distribution network and expanding its global reach. This acquisition is set to add an impressive 150,000 POS lanes to Nayax’s portfolio.
Nayax Ltd. is a global player in commerce enablement, focusing on payment solutions and loyalty platforms that empower merchants to expand their businesses on a grand scale. Retail Pro International, on the other hand, stands out in the retail Point of Sale software sector, boasting a clientele of Tier 1 global brands and an extensive history of over 30 years in delivering top-notch retail management solutions.
Post-acquisition, Nayax’s retail solutions will be available to over 9,000 retailers in over 100 countries, benefitting from approximately 150,000 POS lanes. Moreover, this acquisition grants Nayax access to Retail Pro’s extensive partner ecosystem comprising more than 80 distributors worldwide.
Retail Pro brings decades of expertise in the retail industry and a global market reach to the table. Its vast experience complements Nayax’s existing technology solutions and aligns perfectly with Nayax’s vision for growth. The acquisition is set to close in Q4 2023 with a purchase price signifying an implied enterprise value of $36.5m. The transaction details highlight an initial payment of about $20m in cash at closing.
Nayax Chief Executive Officer and Chairman of the Board Yair Nechmad said, “Throughout their 30+ year brand history, Retail Pro has built a full-featured, flexible product, capable of handling the complex, global retail environment. We believe this combined offering will result in an unrivalled value of innovative retail solutions.”
Retail Pro’s Chief Executive Officer Kerry Lemos commented, “Over the years, customers have come to trust our robust technology platform to optimise their complex retail operations. We look forward to working closely together with Nayax’s team, as this coalition represents an ideal fit and strong win for our customers, partners, and employees globally.”
Keep up with all the latest FinTech news here
Copyright © 2023 FinTech Global