HERZLIYA, Israel - Nayax Ltd. (NASDAQ: NYAX; TASE: NYAX), a prominent commerce enablement and payment platform, has announced the acquisition of Roseman Engineering Company Ltd., a key player in fuel and electric vehicle (EV) management solutions. The transaction, valued at 21 million ILS (approximately $5.7 million USD), was completed using existing cash reserves.
The integration of Roseman's technology with Nayax's offerings is anticipated to strengthen the company's position in the energy sector, particularly in providing comprehensive solutions for fleet management, cloud management, and Automatic Vehicle Identification (AVI) applications. Roseman's innovative software assists fuel and EV charging station owners in monitoring revenue, reducing costs, and enhancing operational efficiency.
This strategic move is expected to bolster Nayax's competitive edge in the market by combining its Point of Sale (POS) devices and software with Roseman's automated payment solutions for the fuel industry. Nayax's CEO Yair Nechmad expressed that the acquisition is aligned with the company's strategic objectives in the energy and mobility sectors and promises to enhance their market presence.
Eli Bar, CEO of Roseman, also highlighted the merger's potential to expand product offerings and create superior value for customers. The companies have previously collaborated on developing an EMV payment solution for gas stations in Israel, which is designed to enable secure credit card payments.
The acquisition is part of Nayax's growth strategy for Nayax Energy and is expected to drive expansion, providing advanced payment, management, and loyalty solutions for the energy sector. The addition of Roseman's technology and expertise is set to complement Nayax's existing services and expand their reach in the global market.
Nayax operates globally with connections to over 80 merchant acquirers and payment methods, while Roseman's solutions are utilized by more than 9,000 companies worldwide. The merger is poised to enhance the combined capabilities of both companies in the energy market.
This news is based on a press release statement from Nayax Ltd. and does not include any subjective assessments or speculative commentary.
InvestingPro Insights
Nayax Ltd. (NASDAQ: NYAX) has shown a remarkable ability to generate investor interest with a 51.87% return over the last year, indicating a strong performance in the market. This momentum is further underscored by a robust 32.1% return in the past three months, which reflects positively on the company's recent strategic initiatives, including the acquisition of Roseman Engineering Company Ltd.
The company's market capitalization stands at $928.16 million USD, reflecting its substantial presence in the commerce enablement and payment platform sector. Despite not being profitable over the last twelve months, analysts are optimistic about Nayax's future, predicting that the company will turn a profit this year. This anticipated shift towards profitability could be a driving factor behind the company's aggressive growth strategy and recent acquisitions.
InvestingPro Tips indicate that Nayax operates with a moderate level of debt and is trading at a high Price / Book multiple of 9.28. These factors, combined with the expected net income and sales growth in the current year, suggest a potentially favorable outlook for the company. For readers interested in a deeper analysis, there are additional InvestingPro Tips available, which can be accessed with a subscription. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
For further insights and detailed analytics, including more InvestingPro Tips that can help inform investment decisions, visit https://www.investing.com/pro/NYAX. With the recent acquisition of Roseman, Nayax is poised to leverage its technology to enhance its market presence, which may be reflected in future financial metrics and market performance.
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