Nayax Ltd. has agreed to acquire smart parking technology provider IPS Group Inc. for $350 million in cash, expanding the long-time unattended retail payments company into parking and curb management.

The transaction is expected to close in the fourth quarter of 2026, subject to regulatory approvals and customary closing conditions. Nayax will fund the acquisition with cash on hand and approximately $150 million in new committed debt.

IPS provides payment-enabled parking technology for municipalities, universities and private operators. Its platform includes parking meters, mobile and text-based payments, enforcement and permitting software, vehicle detection and curb data analytics. The company supports more than 250,000 parking spaces and processes millions of consumer payment transactions annually.

Nayax said the acquisition will combine its payments infrastructure and global distribution network with IPS’s parking hardware and software. The company expects to expand IPS into new international markets, beginning with continental Europe, while offering parking and curb management services to existing Nayax customers. The deal also creates opportunities to combine parking with electric vehicle charging services, a key focus for Nayax.

Nayax expects the acquisition to increase its addressable cashless opportunity to approximately $342 billion by 2029. The company said parking shares characteristics with its other unattended commerce markets, including frequent, relatively low value transactions supported by integrated hardware, software and payment services.

IPS’s executive management team is expected to remain with the company and continue operating the business from San Diego.