Self-service commerce technology provider Cantaloupe has agreed to be acquired by 365 Retail Markets in an all-cash deal worth approximately $848 million.

The acquisition will see Cantaloupe become a privately held company and marks a major consolidation in the unattended retail technology sector.

365 Retail Markets, a portfolio company of private equity firm Providence Equity Partners, focuses on self-checkout solutions for enterprise foodservice operators. Cantaloupe brings expertise in payment processing and software services.

The two companies said the merger will create a comprehensive platform spanning payments, telemetry, software, kiosks and data analytics, aiming to serve a wider range of customers across retail, hospitality, convenience services, and sports and entertainment sectors. The combined business will operate across North America, Latin America and Europe.

Cantaloupe shareholders will receive $11.20 per share in cash – a 34% premium over the company’s closing price on 30 May 2025, prior to speculation of the deal.

Ravi Venkatesan, CEO of Cantaloupe, said: “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. Our combination will bolster our joint ability to invest in R&D and expand our portfolios, while allowing us to help retailers across the globe to innovate and scale with confidence.”

Joe Hessling, founder and CEO of 365, commented: “This is an incredibly exciting moment for the 365 team. We are very proud of the progress we have made in recent years, and together with Cantaloupe’s complementary offerings and team expertise, we’ll be able to deliver a broader, more innovative suite of solutions to our customers around the world".

!We have the utmost respect for the Cantaloupe team and look forward to working with them, while continuing our successful partnership with Providence, to accelerate our combined growth, expand our global reach and shape the future of unattended retail.”

Scott Marimow, MD at Providence, added: “We believe this combination presents the opportunity to enhance value and create a more diversified business that can better serve FSOs, non-FSO customers and end users. The combination will help accelerate product innovation and provide a number of attractive cross-selling opportunities across the value chain. We are proud to continue our work with the 365 and Cantaloupe teams as they redefine their sector and better support the growing needs of their thousands of highly-valued customers.”

The transaction has been unanimously approved by Cantaloupe’s board and is expected to close in the second half of 2025, subject to shareholder and regulatory approval. It is not subject to a financing condition, and 365 has secured full funding.

Top image: © Cantaloupe