365 Retail Markets has completed its acquisition of Cantaloupe, bringing together two self-service commerce technology providers under the 365 brand.
No financial terms were disclosed
The deal combines Cantaloupe’s payments, telemetry and global device network with 365’s self-checkout, smart store and software systems. 365 said the combination expands its reach across vending, foodservice and other unattended retail settings. The company also expects to grow in newer venues, including entertainment sites, hotels and transit locations. The combined platform is designed to help operators choose tools that fit their business needs and improve the consumer experience. 365 Retail Markets founder and CEO Joe Hessling said: “We are thrilled to have completed the acquisition of Cantaloupe. “The addition of their great products and welcoming both Scott Stewart and Jeffrey Dumbrell to the executive team will certainly go a long way to onboard nearly 40,000 new customers and introduce them to the 365 suite of products and services.” 365 is backed by Providence Equity Partners, which focuses on growth investments in media, communications and education businesses.
According to the press statement, the acquisition strengthens 365’s portfolio across both traditional and emerging unattended retail segments. Providence managing director Scott Marimow said the deal creates “unparalleled opportunity for diversification and scale across sectors and geographies.” The statement put the value of the global unattended retail industry at $86bn. Cantaloupe chief revenue officer Jeffrey Dumbrell added: “Integrating with 365 is an important next step to help our customers maximise the value and reach of available technology solutions. “As the demand for micro-retail in nontraditional sectors like hospitality and warehouses becomes stronger, we anticipate that the expanded capabilities enabled through this combination will allow for highly customised, readily available retail that benefits…