Israeli company Nayax to acquire Retail Pro International
Israeli company Nayax to acquire Retail Pro International
The payments platform has purchased Retail Pro for $36.5 million, and expects to see earnings immediately following the closing of the deal at the end of the year.
Israeli company Nayax announced that it will acquire Retail Pro, a retail Point of Sale (POS) software company for $36.5 million. “The acquisition will meaningfully expand the scope of 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,” the company said in a PR statement.
Nayax is a global commerce enablement payments and loyalty platform designed to help merchants scale their business. It became the first Israeli unicorn to go public in Tel Aviv rather than the U.S. when it went public in 2021.
The company says that they anticipate that the acquisition will be immediately accretive to net income, following the closing of the deal, which is expected to be in Q4 2023.
“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. We believe this combined offering will result in an unrivaled value of innovative retail solutions,” said Nayax’s CEO and Chairman of the Board Yair Nechmad.
“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, CEO of California-based Retail Pro. Retail Pro has an integrated platform and innovative retail software solution that allows retailers to accept payments and optimize business operations to improve customer experience. In 2022, Retail Pro earned about $14 million in adjusted revenue.
