Nayax announces acquisition of Lynkwell for $25.9M

Nayax (NYAX) announced the acquisition of Lynkwell, an AI-enabled EV Charging platform. The acquisition reinforces Nayax’s strategy to deliver a comprehensive platform that unites payment acceptance with advanced operational management software across the verticals it serves. In EV charging, Nayax has expanded through partnerships that embed its payment technology into a range of EV charging equipment, and Lynkwell extends that strategy with a powerful, purpose-built AI enabled management software platform which has already been evaluated and approved by hundreds of utilities, funding programs, and state and government procurement contracts. The acquisition enables Nayax partners to access Lynkwell’s full suite of products and services designed to help deploy and operate charging infrastructure across public use cases including retail, multi-family, workplace, fleet, and government settings. In addition to its strong public charging presence, Lynkwell also serves as the platform of choice for hundreds of fleets, including two of the largest fleets in North America. The platform delivers a solution to maximize both the financial and operational benefits of infrastructure investments for Nayax’s customers. Deploying Nayax’s flexible financing solutions combined with Lynkwell’s deep industry expertise will provide customers with the capital resources needed to accelerate deployment and maximize their growth potential which will in turn support Nayax’s continued growth in the market. Highlights: Unanimous board approval from both Nayax and Lynkwell. Implied effective purchase price of $25.9M in cash at closing for 100% of the business, with an additional earnout based on certain profitability metrics within the first 12 months post-closing. Lynkwell’s financial performance includes audited 2024 revenues of $17.1M and substantial year-over-year growth. Nayax has funded the transaction with cash on hand. Synergies are expected from the integration of Lynkwell into Nayax’s ecosystem, enhancing both revenue and operational efficiency. Transaction is a simultaneous sign-and-close.