Payments company Nayax has completed its acquisition of smart parking technology provider IPS Group, paying $350m in an all-cash transaction. IPS manages more than 250,000 parking spaces across the US, Canada, the UK and Ireland, and the deal brings parking, payments and electric vehicle (EV) charging at the kerbside into a single platform.
Nayax, which is listed on Nasdaq and the Tel Aviv Stock Exchange (both under NYAX), bought IPS from private equity investor Windjammer Capital Investors. The announcement was made in Herzliya, Israel, on 1 October 2026.
What IPS brings
IPS Group is a provider of payment-enabled smart parking technology. It launched one of the first payment-enabled smart parking meters in 2005 and now supplies single and multi-space meters, mobile and text-based payments, and parking management software to municipalities, universities and private operators.
According to Nayax, the combined business will offer cities, universities and private operators a single platform covering parking, payments and EV charging at the kerbside. Nayax says it will add its global payments infrastructure to the IPS platform and extend it internationally through its commercial presence in more than 120 countries.
“IPS gives Nayax a leading position at the curb, one of the most demanding and valuable environments in unattended commerce,” says Yair Nechmad, chairman and chief executive of Nayax. “Our ambition is to offer cities worldwide a comprehensive mobility solution with payments at its core, from parking to EV charging and beyond.”
Nayax says the acquisition expands its addressable cashless opportunity by approximately $85bn, to approximately $342bn by 2029.
Transaction details
The $350m total enterprise value is on a cash-free, debt-free basis. Nayax says this represents approximately 17 times IPS’s expected 2026 adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), excluding anticipated synergies, and approximately 12 times including run-rate synergies of more than $8m.
Nayax financed the purchase with cash on hand and approximately $150m of new debt from Poalim Tech, the technology banking arm of Bank Hapoalim, and First International Bank of Israel.
Nayax expects IPS to generate full-year 2026 revenue of more than $90m, of which more than 60% is recurring, with approximately 20% organic growth over 2025. Adjusted EBITDA is forecast at approximately $21m, with free cash flow conversion of approximately 80%.
For the period from 1 October to 31 December 2026, Nayax expects IPS to contribute approximately $20m to $22m of revenue and more than $5m of adjusted EBITDA to its results. The company says the transaction is expected to be immediately accretive to gross margin, adjusted EBITDA margin, adjusted earnings per share and free cash flow conversion, and is in line with its progress towards its 2028 targets.
Leadership and advisers
IPS chief executive Chad Randall and the IPS executive team will continue to lead the business from San Diego, California.
“IPS has spent more than 20 years earning the trust of the cities and operators we serve,” says Randall. “As part of Nayax, our customers gain a broader payments and EV charging ecosystem, and our platform gains a global stage.”
Jefferies served as exclusive financial adviser and Reed Smith as legal counsel to Nayax. Harris Williams was exclusive financial adviser and Kirkland & Ellis legal counsel to IPS and Windjammer Capital Investors.
