This acquisition accelerates Nayax's market position in the fuel and EV charging and management fields
HERZLIYA, Israel, April 04, 2024 (GLOBE NEWSWIRE) -- Nayax Ltd. (Nasdaq: NYAX; TASE: NYAX), a leading global commerce enablement, payments, and loyalty platform designed to help merchants scale their business, today announced the acquisition of Roseman Engineering Company Ltd. and Roseman Holdings Ltd. ("Roseman"), a leading global fuel and electric vehicle (EV) management solution provider.
Tel Aviv-based Roseman provides a variety of solutions to fuel and EV charging station fleet owners with its innovative software that allows its customers to track fuel station income, reduce expenses, and increase operational efficiency, among other capabilities.
The acquisition and Roseman's technology strengthen Nayax's existing offerings in the energy sector, which includes Point of Sale (POS) devices and software that is utilized by EV charging station operators worldwide.
The addition of Roseman's expertise and technology provides Nayax's customers with a comprehensive solution that addresses fleet management, cloud management, and AVI (Automatic Vehicle Identification) applications. Some of their customers include AssetWorks in the United States and Euromat in Greece. Roseman's distributors around the world will now have the ability to expand their offering with Nayax's open loop cashless payment solutions.
Over the past several months, Nayax and Roseman have been collaborating to develop an EMV payment solution for gas stations in Israel that will enable full-service and highly secured credit card payments via smart clearing Point of Sale (POS) on gas pumps and mobile card readers.
The purchase price is 21 million ILS (approximately $5.7 million USD), which is being paid with existing cash on hand.
"This acquisition of Roseman aligns with our company's strategic objectives in the energy and mobility sectors, marking a significant step in the company's growth trajectory for Nayax Energy. The integration of Roseman's innovative automated payment solutions for the fuel industry, complemented with Nayax Energy's existing offerings, promises to enhance our competitive edge and market presence. This acquisition is expected to drive expansion and deliver advanced payment, management, and loyalty solutions, reinforcing Nayax's commitment to providing a complete payment and POS offering for the energy sector," says Yair Nechmad, CEO of Nayax.
"Aligning with Nayax opens up significant opportunities for Roseman to enhance and expand its product and solution offerings. This merger brings together two companies with complementary strengths and a shared focus on innovation, setting the stage for a stronger presence in the energy market. Leveraging the combined capabilities of both companies, this move is aimed at delivering superior value to customers by providing a complete solution for energy customers, supporting our goal to achieve sustainable growth and value creation," says Eli Bar, CEO of Roseman.