Nayax strikes $350 million deal to acquire IPS Group
- Nayax (NASDAQ:NYAX) agreed to acquire IPS Group from Windjammer Capital for $350 million cash-free and debt-free.
- The acquisition adds smart parking meters, payment solutions, enforcement tools, and SaaS analytics capabilities.
- IPS Group will expand Nayax’s presence in parking technology markets across North America, the UK, and Ireland.
Nayax (NASDAQ:NYAX) agreed to acquire IPS Group from Windjammer Capital for $350 million cash-free and debt-free, adding a smart parking technology platform serving municipalities, universities, and parking operators.
Founded in 2000 and headquartered in San Diego, California, IPS provides smart parking infrastructure including single- and multi-space meters, mobile applications, payment solutions, enforcement systems, and SaaS-based data analytics.
Under Windjammer’s ownership since December 2020, IPS expanded from a smart meter manufacturer into an integrated parking technology provider by investing in product development, leadership expansion, and operational capabilities.
The transaction will add IPS’s installed base, technology platform, and recurring revenue operations to Nayax, while IPS serves customers across North America, the United Kingdom, and Ireland.
Nayax provides payment and commerce technology solutions, while the IPS acquisition expands its capabilities in smart parking infrastructure and connected mobility services.
The transaction remains subject to customary closing conditions, and financial advisors Harris Williams and Kirkland & Ellis advised IPS and Windjammer on the deal.
