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Nayax Acquires US Smart Parking Firm IPS Group for $350 Million, Expands Market Reach

How 2 Israeli newsrooms covered this story — translated into English and compared side by side.

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First reported by Globes · 2 hours ago

What happened

Israeli fintech Nayax is acquiring US smart parking company IPS Group for $350 million, expanding into smart parking solutions and increasing its market potential. The deal is expected to close in Q4 2024, with Nayax financing it through cash and new debt. IPS will continue operating under its current management in San Diego.

01Nayax acquires US smart parking firm IPS Group for $350 million in cash.
02The deal expands Nayax's market potential by $85 billion to $342 billion by 2029.
03Nayax will fund the acquisition with $150 million debt and $200 million cash reserves.
04IPS manages over 250,000 parking spaces across the US, UK, Ireland, and Canada.
05IPS expects $90 million revenue in 2024 with 60% recurring revenue and $21 million adjusted EBITDA.
06Nayax forecasts $8 million annual EBITDA synergies by 2029 through payment integration.

Summary translated & synthesized from the sources below by baba. Read each original for the full report.

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Chad Randall