- Nayax plans to acquire smart parking technology provider IPS Group to expand its presence in parking and curb management.
- The acquisition will combine IPS’ parking technology and 250,000-space footprint with Nayax’s payments infrastructure and global reach, creating new expansion and cross-sell opportunities.
- The deal reflects Nayax’s “land and expand” M&A strategy and the broader convergence of payments and vertical software as payment providers move beyond transaction processing.
Global commerce, payments, and loyalty platform Nayax announced plans today to acquire smart parking technology provider IPS Group from Windjammer Capital Investors for an undisclosed amount.
Founded in 2000, IPS offers payment-enabled smart parking technology that processes millions of consumer payment transactions each year. The platform operates using physical infrastructure such as meters, combined with mobile and text-based payments, enforcement and permitting software, vehicle detection tools, and curb data analytics.
Nayax will tap IPS, which has two decades of experience building parking technology with an established base of more than 250,000 parking spaces. Nayax anticipates that its established reach across more than 120 countries will help IPS expand into new markets while giving its own customers access to a parking and curb management solution, adding cross-sell opportunities to Nayax’s existing offering. Nayax estimates that IPS will boost its addressable cashless opportunity to approximately $342 billion by 2029.
“Cities run some of the most demanding unattended commerce anywhere, with strict compliance requirements and infrastructure that must last a decade,” said Nayax CEO Yair Nechmad. “Together with IPS we can give cities a unified platform for the curb and run parking alongside EV charging.”
Nayax was founded in 2005 and offers cashless payment, IoT service, and management solutions for unattended retail stores. The Maryland-based company’s tools work best for high-frequency, low-value transactions for which Nayax provides end-to-end hardware, software, payments, and loyalty.
Acquisitions play a major role in Nayax’s growth strategy. In addition to today’s deal, the company has made 10 acquisitions over the past 21 years, following a “land and expand” playbook of acquiring established solution providers in specific verticals and integrating them with Nayax’s payments infrastructure. The strategy allows Nayax to leverage the acquired companies’ industry expertise and customer relationships while using its payments stack and global reach to scale their businesses into new markets.
“IPS fits perfectly into our M&A playbook,” said Nayax Chief Strategy Officer Aaron Greenberg. “We seek companies in verticals where payments and software work together, using our payment stack and infrastructure to take these businesses global. From hardware quality to payments strength, it is exactly the platform a combined Nayax-IPS represents.”
The deal shows how unique payments infrastructure can help organizations expand into specialized verticals. Rather than building industry-specific software and distribution from scratch, payments companies can acquire established vertical platforms and layer their existing payments capabilities onto them. The acquisition also reflects the continued convergence of payments and vertical software. As payments become increasingly embedded within industry-specific platforms, payment providers have an opportunity to move beyond transaction processing and own more of the technology their customers use to operate.