Nayax (NYAX) signs definitive deal to acquire IPS Group

Together, Nayax and IPS will bring together complementary capabilities in unattended commerce, pairing Nayax’s payments infrastructure and global distribution network with IPS’s purpose-built smart parking hardware and software. IPS’s two decades of field-proven technology and established base of more than 250,000 parking spaces, combined with Nayax’s reach across more than 120 countries, will accelerate IPS’s expansion into new markets, starting with Continental Europe, while giving Nayax’s existing customers access to a leading parking and curb management solution. The combination offers cross-sell opportunities and expands Nayax’s addressable cashless opportunity. It is the same playbook of land and expand Nayax has used in previous acquisitions: acquire a trusted solution provider in a vertical, then seamlessly integrate with Nayax’s own payments infrastructure to better serve our customers. IPS is a leading provider of payment-enabled smart parking technology whose connected solutions process millions of consumer payment transactions annually for municipalities, universities and private operators. The platform spans meters, mobile and text-based payments, enforcement and permitting software, vehicle detection and curb data analytics. Nayax has built its unattended verticals on a single pattern: high-frequency, low-value transactions in which operators receive an end-to-end platform - hardware, software, payments and loyalty from one provider. Parking fits that pattern. IPS gives Nayax a leading parking platform from which to compete as a provider of hardware, software and payments, lifting 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 Yair Nechmad, Chairman and Chief Executive Officer of Nayax. "Together with IPS we can give cities a unified platform for the curb and run parking alongside EV charging." "IPS fits perfectly into our M&A playbook," said Aaron Greenberg, Chief Strategy Officer of Nayax. "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." "Over more than two decades we have built the most complete on-street solution in the market," said Chad Randall, Chief Executive Officer of IPS. "Joining Nayax will offer IPS the resources to expand globally and enhance our parking technology ecosystem offering for customers." Transaction Highlights: Total enterprise value of $350 million in an all-cash transaction, on a cash-free debt-free basis, representing approximately 17x 2026E Adjusted EBITDA, excluding anticipated synergies. The Adjusted EBITDA multiple is approximately 12x when considering run-rate synergies of more than $8 million. Immediately accretive