Israeli fintech company Nayax (TASE: NYAX; Nasdaq: NYAX) has announced that it is acquiring US smart parking technology company IPS Group for $350 million cash - its biggest-ever acquisition.
Nayax, which provides cashless payment solutions, is acquiring IPS Group from Windjammer Capital Investors, which itself bought the company in 2020 for an undisclosed sum.
Nayax says the acquisition represents a significant entry into the smart parking market and expands its operations in the autonomous commerce sector. The company adds that the combination of activities will increase Nayax’s potential target market in the cashless payments sector by $85 billion, to $342 billion by 2029.
According to Nayax, the value of ISP's operations in the deal reflects a multiple of 17 on the adjusted EBITDA forecast this year, and with the expected synergies, totaling $8 million per year by 2029, the multiple is about 12. Nayax believes that the deal will contribute immediately to its profits.
Financing the deal: Nayax’s debt will increase
At the end of the second quarter, Nyx had cash and short-term and long-term investments worth about $304 million. To finance the acquisition, Nyx will raise about $150 million in debt. The company will thus increase its leverage and debt, which at the end of the second quarter was $358 million, mainly in long-term debt to bondholders. Nayax sees its net financial debt to EBITDA ratio to be 3.8 on completion of the deal in the fourth quarter, and falling below 3 by the end of 2027.
Nayax said ISP is a leading provider of payment-based smart parking solutions with over 20 years of operation and technology deployed in more than 250,000 parking spaces. Its solutions process millions of transactions annually for local authorities, universities and private operators, and include smart parking meters, mobile payments, vehicle identification and more. Nayax plans to integrate ISP's technology in the markets in which it operates, with an emphasis on Europe.
Nayax chairman and CEO Yair Nechman said, "Cities run some of the most demanding unattended commerce anywhere, with strict compliance requirements and infrastructure that must last a decade. Together with IPS we can give cities a unified platform for the curb and run parking alongside EV charging."
IPS CEO Chad Randall added, "Over more than two decades we have built the most complete on-street solution in the market. Joining Nayax will offer IPS the resources to expand globally and enhance our parking technology ecosystem offering for customers."
Published by Globes, Israel business news - en.globes.co.il - on August 25, 2026.
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