Reed Smith advises Nayax on $350 million acquisition of IPS Group

IPS is a payment-enabled smart parking technology provider whose connected platform processes millions of consumer payment transactions annually for municipalities, universities, and private operators. The transaction is expected to close in Q4 2026.

The acquisition positions Nayax in the smart parking vertical by pairing its payments infrastructure and global distribution network across more than 120 countries with IPS's purpose-built hardware and software platform spanning meters, mobile and text-based payments, enforcement and permitting software, vehicle detection, and curb data analytics. IPS has an established base of more than 250,000 parking spaces. The combination will accelerate IPS's expansion into new markets, starting with Continental Europe, and enhance its parking technology ecosystem offering for customers, while giving Nayax's existing customers access to a parking and curb management platform.

Nayax's unattended commerce model centers on high-frequency, low-value transactions in which operators receive an end-to-end platform — hardware, software, payments, and loyalty — from a single provider. Parking fits that model: IPS's hardware quality and payments strength make it the type of platform Nayax targets — one operating in demanding unattended commerce environments with strict compliance requirements and infrastructure that must last a decade. 

The transaction follows Nayax's approach of acquiring a provider in a vertical where payments and software work together, then scaling the business globally through its payment stack and infrastructure. Together, the combination can give cities a unified platform for the curb and run parking alongside EV charging.

The Reed Smith deal team was led by Lyn Reinhardt, Jocelyne Kelly, and Jennifer Feld.