USA Technologies acquires Cantaloupe Systems for USD 85 mln

Tuesday 7 November 2017 13:58 CET | News

USA Technologies, a payment technology service provider, has acquired Cantaloupe Systems, a provider of cloud and mobile solutions, in a transaction valued at approximately USD 85 million.

USAT will pay USD 65 million cash and issue approximately USD 20 million in stock for the acquisition. The company will also assume up to USD 1.8 million of Cantaloupes notes payable.

After one-time acquisition and integration related expenses, the company anticipates this transaction to be accretive in fiscal 2018.

With Cantaloupes existing customer-base in the US, Canada, Australia, and South America, the union would expand USATs footprint into new global markets.

The Cantaloupe product line has natural synergies with USATs ePort Connect Platform. Its Seed Cloud offering is comprised of: Seed Pro, Seed Office, Seed Cashless, Seed Delivery, and Seed Markets.

These solutions provide cloud and mobile solutions for route scheduling, automated pre-kitting, responsive merchandising, inventory management, warehouse and accounting management, as well as cashless vending.

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Keywords: USA Technologies, Cantaloupe, Payment Service Provider, PSP, cloud, mobile solutions
Categories: Payments & Commerce | Online Payments
Countries: World
This article is part of category

Payments & Commerce