Nayax Ltd. agreed to acquire IPS Group, Inc. for $350 million in cash, expanding its presence in smart parking and digital payment solutions. The Israeli firm, listed on the NASDAQ and TASE, will fund the deal with existing cash and approximately $150 million in new committed debt, resulting in an estimated net leverage of 3.8 times at closing.
IPS Group, a San Diego-based provider of payment-enabled smart parking systems, operates over 250,000 parking spaces across the U.S., U.K., Ireland, and Canada. The acquisition values IPS at roughly 17 times its projected 2026 adjusted EBITDA of $21 million, excluding synergies. IPS is expected to generate revenue exceeding $90 million in fiscal 2026, with more than 60% recurring revenue and organic growth of about 20% from 2025.
The transaction is structured to deliver run-rate EBITDA synergies of over $8 million by 2029, primarily through migrating IPS’s payment volume onto Nayax’s processing infrastructure and expanding into Continental Europe. Nayax’s executive team will retain IPS’s management, with CEO Chad Randall continuing to lead the business from San Diego.
The deal is expected to close in the fourth quarter of 2026, pending regulatory approvals and customary conditions. Nayax stated the acquisition is not reflected in its current 2026 guidance. Financial advisors for Nayax included Jefferies LLC and Reed Smith LLP, while IPS Group and Windjammer Capital Investors were advised by Harris Williams and Kirkland & LLP.
