Payments

Cantaloupe to be acquired by 365 Retail Markets in $848M deal

Photo: Cantaloupe Inc.

June 16, 2025

Cantaloupe Inc., a technology company specializing in self-service commerce, has entered into a definitive agreement to be acquired by unattended retail innovator 365 Retail Markets LLC. The all-cash transaction has an equity value of approximately $848 million, according to a press release.

Under the terms of the agreement, Cantaloupe shareholders will receive $11.20 per share, representing a 34% premium to the company's unaffected closing stock price on May 30, 2025. Upon completion of the deal, Cantaloupe will become a privately-held company and its stock will no longer be publicly traded.

The acquisition aims to combine Cantaloupe's expertise in payment processing and software services with 365 Retail Markets' self-checkout technology. The companies expect the merger to create a comprehensive platform for the unattended retail sector, serving a broader customer base across markets like convenience services, hospitality, and entertainment.

"A rapid transformation in unattended retail is underway right now as our customers look for more sophisticated ways to grow their business," Ravi Venkatesan, CEO of Cantaloupe, said in the release. "We look forward to joining with 365 to provide our customers a comprehensive suite of best-in-class solutions spanning payments, telemetry, vertical specific software, kiosk-based marketplaces, and smart retail innovation."

The transaction was unanimously approved by Cantaloupe's Board of Directors and is expected to close in the second half of 2025, pending shareholder and regulatory approvals.