Nayax Acquired IPS Group for $350 Million
The payment provider expanded into smart parking to capture recurring revenue from more than 250,000 parking spaces.
Updated on Oct. 1, 2026 in Financial Services
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Nayax completed an all-cash acquisition of smart parking technology provider IPS Group for $350 million. The deal aims to accelerate Nayax's entry into the mobility payments sector, with the move expected to be accretive to the company's gross margin and free cash flow.
Why it matters
The acquisition allows Nayax to integrate its payments platform into a high-growth vertical, significantly expanding its addressable cashless market opportunity. For operators, it signals a consolidation trend where specialized hardware providers are increasingly absorbed into broader payment-processing ecosystems.
IPS Group reported $21 million in Adjusted EBITDA and an organic growth rate of 20% over FY 2025, with 60% of its revenue derived from recurring sources. Nayax funded the transaction using cash on hand and $150 million in new debt provided by Poalim Tech and First International Bank of Israel.
The players
Nayax
An international retail technology company providing integrated cashless payment systems and management software for unattended businesses.
IPS Group
A provider of smart parking hardware and software solutions operating across North America and Europe.
Windjammer Capital Investors
A private equity firm that divested its ownership stake in IPS Group to Nayax.
Chad Randall
The executive leader who continues to head IPS Group following the acquisition.
The details
Nayax structured the deal as an all-cash transaction on a cash-free, debt-free basis. By acquiring IPS, which manages 250,000 parking spaces across the U.S., Canada, the U.K., and Ireland, Nayax secures a footprint in the mobility sector to push its cashless payment terminals. Chad Randall and the existing executive team will remain in San Diego to operate the business as a division under the new corporate ownership.
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.
Market Landscape
This transaction reflects an industry-wide pivot toward vertical integration, as payment providers look to bundle hardware with software-as-a-service to capture recurring revenue. The deal aligns with the sector trend of consolidating niche hardware providers into centralized payment processing ecosystems.
Operators in the parking and unattended retail sectors should monitor the potential interoperability of IPS hardware with other payment platforms. If you rely on these systems, evaluate whether the acquisition shifts the long-term support model or costs for your current parking management equipment.
The takeaway
The move positions Nayax to scale its cashless services into a $342 billion global market by 2029. Watch for upcoming quarterly reports to track whether the IPS acquisition meets the projected $20-22 million revenue contribution for FY 2026.
Further reading
For more on industry consolidation, see our coverage of Financial Services.
More information
Find further details on the company's growth strategy on the Nayax corporate portal.
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