Nayax Completes Acquisition of Roseman, a Leading Global Fuel, EV Fleet and Management Solution Provider
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.
Forward-Looking Statements
This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as "anticipate," "believe," "could," "expect," "should," "plan," "intend," "estimate" and "potential," among others. Forward-looking statements include, but are not limited to, statements regarding our intent, belief or current expectations. Forward-looking statements are based on our management's beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to of various factors, including, but not limited to: our expectations regarding general market conditions, including as a result of the COVID-19 pandemic and other global economic trends; changes in consumer tastes and preferences; fluctuations in inflation, interest rate and exchange rates in the global economic environment over the world; the availability of qualified personnel and the ability to retain such personnel; changes in commodity costs, labor, distribution and other operating costs; our ability to implement our growth strategy; changes in government regulation and tax matters; other factors that may affect our financial condition, liquidity and results of operations; general economic, political, demographic and business conditions in Israel, including ongoing military conflicts in the region; the success of operating initiatives, including advertising and promotional efforts and new product and concept development by us and our competitors; factors relating to the acquisition of Roseman, including but not limited to the financing for and payment of the acquisition and our ability to effectively and efficiently integrate the acquired business into our existing business; and other risk factors discussed under "Risk Factors" in our annual report on Form 20-F filed with the SEC on February 28, 2024 (our "Annual Report"). The preceding list is not intended to be an exhaustive list of all of our forward-looking statements. The forward-looking statements are based on our beliefs, assumptions and expectations of future performance, taking into account the information currently available to us. These statements are only estimates based upon our current expectations and projections about future events. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements. In particular, you should consider the risks provided under "Risk Factors" in our Annual Report. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Each forward-looking statement speaks only as of the date of the particular statement. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations.
About Nayax
Nayax is a global commerce enablement, payments and loyalty platform designed to help merchants scale their business. Nayax offers a complete solution including localized cashless payment acceptance, management suite, and loyalty tools, enabling merchants to conduct commerce anywhere, at any time. With foundations and global leadership in serving unattended retail, Nayax has transformed into a comprehensive solution focused on our customers' growth across multiple channels. Today, Nayax has 9 global offices, approximately 800 employees, connections to more than 80 merchant acquirers and payment method integrations and is a recognized payment facilitator worldwide. Nayax's mission is to improve our customers' revenue potential and operational efficiency. For more information, please visit www.nayax.com.
About Roseman
Roseman developed a complete solution for fuel, fleet, HomeBase management and retail fuel automation. Roseman has a positive impact on business growth, mobility and sustainability. Roseman pledges to optimize energy management to benefit their customers, users, and communities by innovating and introducing new and inspiring global standards. Founded in 1978, Roseman is one of the global market leaders in the fueling systems sector that has been redefining and innovating the industry for five decades. More than 9000 companies all over the globe use Roseman's solutions.
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