Nayax Has Acquired San Diego-Based IPS Group

The $350 million all-cash deal integrates global payment technology with smart parking infrastructure.

Updated on Oct. 9, 2026 in Financial Services

Nayax Has Acquired San Diego-Based IPS Group

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Nayax completed the acquisition of San Diego-based IPS Group in an all-cash deal valued at $350 million. The company aims to combine parking, payment, and electric vehicle charging services into one unified platform.

Why it matters

By acquiring the firm that manages over 250,000 parking spaces, Nayax secures a major footprint in the smart city payments sector. The move is designed to scale its presence in the growing cashless transaction market.

IPS Group is expected to generate $90 million in full-year 2026 revenue, marking 20% organic growth over 2025. Nayax financed the purchase using cash on hand and $150 million in new debt.

The players

Nayax

Nayax is a global commerce enablement and payments platform provider that serves retailers and automated machine operators.

IPS Group

IPS Group is a technology company based in San Diego that specializes in smart parking solutions and payment-enabled meters.

Windjammer Capital Investors

Windjammer Capital Investors is a private equity firm that previously held ownership of IPS Group before the acquisition.

Poalim Tech

Poalim Tech is a financial entity that assisted in financing the acquisition deal.

First International Bank of Israel

First International Bank of Israel is a banking institution that provided debt financing for the purchase.

The details

Nayax plans to integrate its global payments infrastructure into the existing IPS parking platform. The current IPS executive team will remain in San Diego to continue leading operations following the buyout from Windjammer Capital Investors.

IPS launched its first payment-enabled parking meter in 2005.
The acquisition was announced and effective on 1 October 2026.
IPS is projected to generate $90 million in revenue throughout 2026.
The first post-acquisition financial reporting period ends 31 December 2026.
The addressable cashless market is projected to reach $342 billion by 2029.

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Market Landscape

The deal follows the industry trend of merging niche hardware providers with expansive digital payment ecosystems to create unified smart city services. This acquisition positions Nayax to compete more aggressively in the broader infrastructure-as-a-service market.

Customers using IPS parking meters should not see immediate changes to their payment process as the transition begins. The combined company aims to improve long-term service reliability by integrating modern payment technologies into existing infrastructure.

The takeaway

Consolidating parking management with global payment systems represents a major step toward digitized municipal infrastructure. Business leaders looking to scale should note how debt-financed acquisitions are being used to accelerate entry into high-growth vertical markets.