NFC TIMES Exclusive Insight – Unattended point-of-sale vendor USA Technologies expects to close its $85 million deal to acquire competitor Cantaloupe Systems next week, telling NFC Times the deal will add to USAT’s suite of services and expand its international reach.
The $85 million deal will give USAT access to Cantaloupe’s logistics and inventory management software, as well as its foothold in some overseas markets. It also eliminates one of USAT’s largest competitors in the U.S. unattended retail market, which includes vending machines, self-service retail kiosks and micromarkets, laundromats and parking lots.
“When we did the capital raise back in July, there were three things that we were looking for from a potential acquisition,” USAT CFO Priyanka Singh told NFC Times. One was that it would add a new software market to our suite of services. We wanted something which would be accretive in the short run if possible and definitely in the long run. And then, lastly, we wanted something that would be able to give us a footprint internationally.”
