Nayax Has Acquired IPS Group for $350 Million
The payments provider purchased the smart parking technology firm to expand its global mobility services.
Updated on Oct. 1, 2026 in Financial Services
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Nayax has completed the $350 million all-cash acquisition of IPS Group to strengthen its footprint in the smart parking and mobility sectors. The deal allows the company to integrate its payment solutions into the extensive parking network currently managed by IPS Group.
Why it matters
This move enables Nayax to significantly extend its cashless payment leadership into the global mobility market. By acquiring a firm that operates more than 250,000 parking spaces, Nayax secures a vital entry point into smart city infrastructure.
The acquisition of IPS Group is valued at a 17x multiple of its 2026 Adjusted EBITDA. Nayax funded the transaction using cash on hand along with $150 million in new debt provided by Poalim Tech and First International Bank of Israel.
The players
Nayax
A global technology company headquartered in Herzliya, Israel, that provides cashless payment and management solutions.
IPS Group
A developer of smart parking and mobility technology that manages over 250,000 parking spaces globally.
Chad Randall
The executive lead who will continue to oversee the business operations of IPS Group following the acquisition.
Windjammer Capital Investors
The private investment firm that previously owned and sold the IPS Group.
The details
IPS Group, based in San Diego, currently manages over 250,000 parking spaces across the United States, Canada, the United Kingdom, and Ireland. Executive leadership, including Chad Randall, will remain in place to continue running the smart parking business operations.
Timeline
IPS Group was founded in 2000.
The company launched its first smart parking meter in 2005.
Nayax completed the acquisition of IPS Group on October 1, 2026.
Nayax projects a total addressable cashless opportunity of $342 billion by 2029.
Market Landscape
This move represents a strategic consolidation in the smart parking industry, pitting integrated payment providers against traditional hardware manufacturers. By moving into mobility, Nayax aims to capitalize on the increasing digitization of municipal and private parking infrastructure.
Customers who utilize IPS Group parking facilities may eventually see broader integration with mobile payment apps and digital wallet features at their meters. This consolidation aims to create a more seamless parking payment experience across the provider's global network.
The takeaway
This acquisition signals a long-term strategy to own the payment flow in high-frequency, low-friction environments like urban parking. Investors should monitor how the integration of IPS technology influences Nayax margins as the smart city market continues to scale.
Further reading
For more on industry shifts, visit the Financial Services section.
More information
For official details, visit the Nayax company information.
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Does the consolidation of parking and payment platforms generally result in better services for your community?
