Nayax Ltd. (NASDAQ:NYAX) stock jumped over 12% Tuesday after the payments company agreed to acquire smart parking technology provider IPS Group Inc. for $350 million in cash.
Deal Expands Parking Business
Nayax will acquire IPS from Windjammer Capital Investors on a cash-free, debt-free basis. The purchase price equals about 17 times IPS’ estimated 2026 adjusted EBITDA. That multiple falls to about 12 times after expected synergies.
IPS provides connected parking meters, mobile payments, enforcement software and curb-management tools. Its technology supports more than 250,000 parking spaces across the U.S., U.K., Ireland and Canada.
The deal will combine IPS’ parking platform with Nayax’s payment infrastructure and distribution network. Nayax operates in more than 120 countries. The company plans to expand IPS into Continental Europe and cross-sell electric vehicle charging services.
