India, Oct. 1 -- Thursday, Nayax Ltd., (NYAX), an integrated POS devices company, announced the completion of the acquisition of IPS Group, Inc. from Windjammer Capital Investors in an all-cash transaction for a total consideration of $350 million.
Nayax and IPS will combine parking, payments, and EV charging into one platform for cities, universities, and private operators.
The acquisition is expected to strengthen Nayax's position in smart parking and increase its addressable cashless market by about $85 billion to approximately $342 billion by 2029.
Nayax financed the transaction with cash on hand and approximately $150 million of new debt from Poalim Tech.
In the after hours on the Nasdaq, the shares were trading at $48.25 with no s...