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Update: Nayax Shares Rise After Signing Deal to Acquire IPS Group for $350 Million in Cash

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(Updates with stock move in the headline and first paragraph.)

Nayax (NYAX) shares were up nearly 12% in early Tuesday trading after the company said it agreed to acquire IPS Group from Windjammer Capital Investors for $350 million in an all-cash transaction, expanding its presence into smart parking.

The deal is expected to generate more than $8 million in annual run-rate earnings before interest, taxes, depreciation, and amortization synergies by 2029, and expand Nayax's addressable cashless opportunity to about $342 billion by 2029, the company said.

IPS provides payment-enabled parking technology, including meters, vehicle detection and curb analytics, serving municipalities, universities and private operators, and managing more than 250,000 parking spaces, Nayax said.

Price: $51.71, Change: $+5.53, Percent Change: +11.97%

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