Payments

Nayax to acquire IPS Group for $350M

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August 26, 2026

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Nayax Ltd. has agreed to acquire smart parking technology provider IPS Group Inc. from Windjammer Capital Investors for $350 million in cash, according to a press release. The deal will combine Nayax's payments and unattended-commerce infrastructure with IPS' parking hardware, software and curb-management technology. IPS manages more than 250,000 parking spaces for municipalities, universities and private operators in the United States, the U.K., Ireland and Canada.

Nayax plans to use its international distribution and payments network to expand IPS into additional markets, beginning with continental Europe. The acquisition will also give Nayax customers access to parking technology encompassing single- and multi-space meters, mobile and text-based payments, enforcement and permitting software, vehicle detection and curb analytics. Nayax said the combination could also create opportunities to offer parking alongside EV charging and increase its addressable cashless payments market to about $342 billion by 2029.

IPS is expected to generate more than $90 million in revenue in fiscal 2026, with recurring revenue accounting for more than 60% of the total. The company is projected to produce about $21 million in adjusted EBITDA. Nayax expects more than $8 million in annual run-rate synergies by 2029 through initiatives including moving IPS payment volume onto Nayax's processing infrastructure, international expansion and cross-selling EV charging services.

The acquisition will be financed with cash on hand and approximately $150 million in new committed debt. IPS' executive management team is expected to remain in place and continue operating the business from San Diego. The transaction is expected to close in the fourth quarter of 2026, subject to regulatory approvals and other customary closing conditions.