Nayax to acquire IPS Group for $350 million

Nayax Ltd. has agreed to acquire smart parking technology provider IPS Group Inc. from Windjammer Capital Investors in a deal valued at $350 million. The acquisition is expected to close in the fourth quarter.

The merger combines Nayax’s global payments infrastructure with IPS Group’s parking technology and management platform. IPS Group currently manages more than 250,000 parking spaces across the United States, Canada, the United Kingdom, and Ireland, including city streets, commercial lots, and college campuses. The platform utilizes smart meters, mobile and text-based payments, enforcement software, and vehicle detection tools.

Nayax aims to leverage its presence in over 120 countries to expand IPS Group’s market reach. The company anticipates the acquisition will significantly increase its addressable cashless processing market. This move aligns with Nayax’s strategy of integrating payments with vertical software, following recent expansions into sectors such as electric vehicle (EV) charging infrastructure.