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Nayax enters agreement to acquire Retail Pro International

By Delisha Fernandes

October 31, 2023

  • cash-free
  • debt-free payments
  • embedded payment

Nayax, Retail Pro International, merchants, cash-free, debt-free payments, retail industry, POS systems, embedded payment, Fintech news, Fintech Israel, Israel newsNayax, a global commerce enablement payments and loyalty platform, is set to acquire Retail Pro International, a global provider of retail Point of Sale (“POS”) software with Tier 1 global brand names worldwide.

This strategic acquisition will significantly expand Nayax’s retail business and solutions to over 9,000 retailers with approximately 150,000 POS lanes in more than 100 countries, including access to an extensive, worldwide partner ecosystem of over 80 distributors.

“We are pleased to be part of a great company like Nayax, which shares our dedication to continued product innovation and customer experience,” said Kerry Lemos, Chief Executive Officer of Retail Pro. “Over the years, customers have come to trust our robust technology platform to optimize their complex retail operations. As part of a larger, multinational organization, we can continue to deliver on that mission on a much larger scale.”

The purchase price for the transaction represents an implied enterprise value of $36.5 million on a cash-free, debt-free basis, to be paid partially in cash and the remainder in cash or equity, subject to specific earnout targets being met. Management expects that the acquisition will be immediately accretive to net income following the closing. The closing is expected to be in Q4 2023, subject to the satisfaction of customary closing conditions.

“Throughout their 30+ year brand history, Retail Pro has built a full featured, flexible product capable of handling the complex, global retail environment. This has resulted in their powerful brand recognition as a premier retail management solution for Tier 1 global retailers,” said Yair Nechmad, Nayax Chief Executive Officer and Chairman of the Board. “We are pleased to be joining forces with Retail Pro’s talented expert team. Our combined businesses, together with Retail Pro’s 80 distributors, will triple our access to the global attended retail market and create a powerful and complete solution with Nayax’s payment and loyalty platform.”

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