USA Technologies Has Acquired Cantaloupe Systems

Thursday, November 9, 2017

USA Technologies Has Agreed to Acquire Cantaloupe Systems


William Blair acted as exclusive financial advisor to USA Technologies in connection with its acquisition of Cantaloupe Systems. The transaction builds on William Blair's role as financial advisor to USA Technologies in the company's follow-on offering in July 2017 and reinforces a long-standing, trusted relationship between the two firms. The transaction signed on November 6, and closed on November 9.

Transaction Highlights

  • Deep sector knowledge: William Blair leveraged its deep expertise in the financial technology and software sectors to advise USA Technologies.
  • Highly strategic transaction: William Blair's expert knowledge of USA Technologies' strategic opportunities enabled the acquisition of Cantaloupe Systems' highly complementary products and services. Cantaloupe's SaaS-based vendor management systems enhance USA Technologies' position as the market leader in one-stop cashless payment and telemetry services designed for the self-serve retail market.
  • Trusted guidance: William Blair's deal team was involved throughout the transaction, providing guidance on market insights, strategic rationale, valuation, and contract negotiation during the due diligence phase.

About the Companies

USA Technologies is the premier payment technology service provider of integrated cashless and mobile transactions in the self-serve retail markets. The company provides wireless networking, cashless transactions, asset monitoring, and other value-added services to the unattended point-of-sale market in the United States and globally. It designs and markets systems and solutions that facilitate electronic payment options, as well as telemetry and machine-to-machine services. The company works with many blue-chip channel partners including dominant NFC players such as Apple Pay, Android Pay, Chase, MasterCard, and Visa.

Cantaloupe Systems is a leading provider of cloud and mobile solutions for vending, micro markets, and office coffee service. The company provides cloud-based mobile solutions for cashless vending, dynamic route scheduling, automated pre-kitting, and merchandising and inventory management. It offers Seed Office, a cloud-based vending management system for managing commissions, taxes, warehouse, cash accountability, and other back-office tasks; Seed Delivery, a cloud and mobile solution for managing office coffee service and other delivery businesses; Seed Cashless, a cloud-based cashless vending solution for accepting card and mobile payments, such as Apple Pay and Android Pay; and Seed Pro, a cloud-based vending intelligence solution that automates the decisions required to optimize vending business.

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