Jerusalem, 26 August, 2026 (TPS-IL) — Israeli fintech company Nayax is acquiring U.S. smart parking company IPS Group for $350 million in cash, making it Nayax’s largest-ever acquisition.
Smart parking technology optimizes urban mobility by integrating IoT sensors, cameras, and AI software to collect real-time data on parking availability, guide drivers to open spots, and automate payment processes.
The deal will give Nayax, which provides cashless payment solutions, a major presence in the smart parking market and expand its business in automated payments.
Nayax said the acquisition will increase its potential cashless payments market by $85 billion, reaching $342 billion by 2029.