India, Aug. 25 -- Nayax Ltd. (NYAX) has agreed to acquire IPS Group Inc. from Windjammer Capital Investors for $350 million in cash.
The transaction is expected to close in the fourth quarter of 2026.
The transaction will be funded with cash on hand and approximately $150 million of new committed debt, with net leverage expected at about 3.8x at closing and below 3.0x by the end of 2027.
The acquisition is expected to expand the company's addressable cashless opportunity to approximately $342 billion by 2029, while providing cross-selling opportunities across payments, parking and EV charging.
IPS provides payment-enabled smart parking technology, including parking meters, mobile and text-based payments, enforcement and permitting softw...