Michigan-based 365 Retail Markets has acquired fellow US retail tech company Cantaloupe for $848m.

Cantaloupe’s and 365’s complementary strengths should enable the combined company to offer a seamless unattended retail platform for customers around the globe, from hardware to software, and payment processing technology to data analytics.

Cantaloupe’s offerings in delivering frictionless payments and software services combined with 365’s focus in self-checkout technology primarily for foodservice operators (FSOs) are expected to help expand the combined company’s customer base, product suite and vertical reach.

Together, they will have a diversified portfolio and be better positioned to serve both FSOs and non-FSOs across convenience services, retail, hospitality, and sports and entertainment, with a growing footprint in North America, Latin America and Europe. The combined company should have a strong financial foundation and the transaction is expected to unlock meaningful synergies to fuel further investment in the business and customer benefits.

These synergies include customer cost savings, cross-sell opportunities and growth through new product rollouts, increased software adoption and payments expansion.

“A rapid transformation in unattended retail is underway right now as our customers look for more sophisticated ways to grow their business,” said Ravi Venkatesan, CEO of Cantaloupe. “We look forward to joining with 365 to provide our customers a comprehensive suite of best-in-class options 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, CEO of 365, added: “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 to our customers around the world. We have the utmost respect for the Cantaloupe team and look forward to working with them.”

The transaction, which was approved unanimously by the Cantaloupe board of directors, is expected to close in the second half of 2025, subject to customary closing conditions, including approval by Cantaloupe shareholders and the receipt of required regulatory approvals. The transaction is not subject to a financing condition and 365 has received fully committed financing for the transaction.

Pennsylvania-based Cantaloupe (www.cantaloupe.com) offers micro-payment processing, self-checkout kiosks, mobile ordering, connected point of sale systems, and enterprise cloud software. Handling more than a billion transactions annually, Cantaloupe’s products enhance operational efficiency and consumer engagement across sectors such as food and beverage markets, smart automated retail, hospitality, and entertainment venues.

Founded in 2008, 365 (www.365retailmarkets.com) provides unattended technologies for food service operators including end-to-end integrated SaaS software, payment processing and point of-sale hardware. Today, 365’s technology autonomously powers food retail spaces at corporate offices, manufacturing and distribution facilities, hospitality settings, senior living facilities, universities and more. Its technology includes a growing suite of frictionless smart stores, micro markets, vending, catering and dining point-of-sale options.