Cantaloupe Agrees To Go Private In $848 Mln Cash Deal With 365 Retail Markets

(RTTNews) - Cantaloupe, Inc. (CTLP), an end-to-end technology solutions provider for self-service commerce, announced Monday that it has entered into a definitive agreement to be acquired by 365 Retail Markets, LLC in an all-cash deal with an equity value of around $848 million. Following the deal closure, Cantaloupe will become a privately-held company.

Under the transaction terms, Cantaloupe shareholders will receive $11.20 per share in cash. The per share purchase price represents a 34% premium to Cantaloupe's unaffected closing stock price on May 30, the last trading day prior to published market speculation regarding a potential transaction involving Cantaloupe.

The acquisition was approved unanimously by the Cantaloupe Board of Directors. The deal is expected to close in the second half of 2025, subject to customary closing conditions.

The transaction is not subject to a financing condition and 365 has received fully committed financing for the deal, the firm said.

Retail technology firm 365 is a portfolio company of specialist private equity firm Providence Equity Partners L.L.C. focused on growth-oriented investments in media, communications, education, and technology companies across North America and Europe.

With the combination, the company said it expects to offer a seamless unattended retail platform, offering hardware to software, and payment processing technology to data analytics.

Upon completion of the transaction, Cantaloupe's common stock will no longer be listed on any public stock exchange.

In the transaction, J.P. Morgan Securities LLC is serving as exclusive financial advisor to Cantaloupe, while William Blair is serving as financial advisor to 365 and Providence.