Fintech M&A and PayPal takeover speculation sharpen valuation tests

Nayax agreed to acquire IPS Group for $350 million, using debt at roughly 3.8x closing leverage and targeting below 3.0x by 2027; parking, curb-management and EV-payment expansion must justify integration and synergy risks. PayPal takeover speculation remains unresolved as Truist and Clear Street cut targets while RBC raised its view, keeping bid credibility and standalone execution in focus.