USA Technologies Completes Acquisition Of Cantaloupe Systems

Posted On: 11/9/2017

  • Printer Friendly Version
  • Decrease Text SizeIncrease Text Size
  • PDF

MALVERN, PA -- USA Technologies Inc. said it has completed its previously announced acquisition of Cantaloupe Systems Inc. in a transaction valued at approximately $85 million. | READ MORE

Cantaloupe is now a wholly owned subsidiary of Malvern, PA-based USAT and will continue to operate from its San Francisco office.

USAT paid $65 million in cash and issued shares of USAT common stock valued pursuant to the merger agreement at $19.81 million. USAT also assumed $1.8 million of Cantaloupe's notes payable. USAT funded the transaction with cash on hand from the recent public offering which closed in July, and through a new $37.5 million credit facility with JP Morgan Chase Bank, N.A.