Cantaloupe Acquisition, Valuation & Financials

Cantaloupe was acquired by 365 Retail Markets for $848M in June 2025, a 2.9x multiple on $293M of revenue.

Cantaloupe acquisition price

$848M

Acquired by 365 Retail Markets · Jun 2025

Cantaloupe revenue at acquisition

$293M

Last twelve months · Jun 2025

Cantaloupe revenue multiple at acquisition

2.9x

EV/Revenue · Jun 2025

Cantaloupe EBITDA multiple before the deal

17.0x

EV/EBITDA · last month listed · Apr 2026

Cantaloupe Overview

About Cantaloupe

Cantaloupe Inc is a technology leader powering self-service commerce by offering one integrated solution for payments processing, logistics, and back-office management. The group offers a comprehensive suite of solutions, including micro-payment processing, self-checkout kiosks, mobile ordering, connected point-of-sale (POS) systems, and enterprise cloud software. Its product and services portfolio consists of Card Readers, Self-Service Kiosks, Smart Coolers, Seed Pick Easy, Cantaloupe Go, Cheq, Smart Lock Connect, and Vine Digital Studio. The company derives revenue streams from subscriptions, transaction processing, and equipment sales.


Founded

1992

HQ

United StatesPhiladelphia, PA

Status

Acquired

Customer focus

B2B

Revenue model

Usage-based

Revenue

$293M (Jun 2025)

Valuation

$848M (acquired Jun 2025)

Cantaloupe Acquisition

Cantaloupe was acquired by 365 Retail Markets for $848M on 16 June 2025.

The acquisition price implies a 2.9x revenue multiple on $293M of revenue.

Before the acquisition Cantaloupe had raised $4M across 1 funding round.

Cantaloupe, Inc., a Nasdaq-listed global technology leader offering end-to-end solutions for self-service commerce including payment processing, telemetry, software services, hardware, and data analytics for unattended retail like kiosks and mobile ordering, has entered a definitive agreement to be acquired by 365 Retail Markets, LLC, a leading innovator in unattended retail technologies focused on self-checkout solutions, point-of-sale, payments processing, and software for enterprise foodservice operators including micro markets, vending, catering, and smart stores. 365 Retail Markets, a portfolio company of Providence Equity Partners since 2020, will take Cantaloupe private in an all-cash transaction valued at approximately $848 million, with shareholders receiving $11.20 per share—a 34% premium over the May 30, 2025 closing price prior to deal speculation. The merger, unanimously approved by Cantaloupe’s board on June 16, 2025, aims to create a comprehensive platform spanning payments, telemetry, software, kiosks, and analytics to expand customer base, cross-selling, R&D investment, and global reach across North America, Latin America, Europe in retail, hospitality, convenience, sports, and entertainment sectors. The strategic rationale combines Cantaloupe’s frictionless payments and software expertise with 365’s self-checkout innovations for foodservice-centric customers, enabling cost efficiencies, product innovation, and broader vertical penetration amid rapid transformation in unattended retail. The deal is not subject to financing conditions, with 365 securing full committed funding, but requires Cantaloupe shareholder approval and regulatory clearances; initially targeted for H2 2025 close, it faces delays into 2026 due to FTC’s Second Request issued late 2025, heightening antitrust scrutiny in the consolidating sector. William Blair advised 365 financially, and Weil advised Providence and 365 legally.

Cantaloupe acquisition details
AcquirerDateTypePriceEV/Revenue
  • 365 Retail Markets
16 Jun 2025PE buyout$848M2.9x

Cantaloupe as a Public Company

Cantaloupe traded as DUS: UTE0 before it was taken private. Its acquisition was announced in June 2025. April 2026 is its last month on record as a listed company, with a market cap of $806M and an enterprise value of $795M.

Last-twelve-month revenue was $303M, with EBITDA of $47M (15% margin), and the shares traded at 2.6x EV/Revenue and 17.0x EV/EBITDA.

Over the 4 years before that, its market cap grew from $389M in April 2022 to $806M, while revenue grew from $198M to $303M.

Cantaloupe market cap while listed

Cantaloupe EV/Revenue (LTM) while listed

Cantaloupe financials and trading multiples by year while listed
As ofMarket capRevenue (LTM)EBITDA (LTM)EBITDA marginEV/RevenueEV/EBITDA
Apr 2026$806M$303M$47M15%2.6x17.0x
Apr 2025$584M$304M$45M15%2.0x13.3x
Apr 2024$422M$269M$30M11%1.6x14.1x
Apr 2023$400M$239M$12M5%1.7x33.7x
Apr 2022$389M$198M$9M4%1.7x37.5x

Market cap, enterprise value and last-twelve-month figures are month-end values, up to the last month Cantaloupe traded.

Cantaloupe Funding History

Cantaloupe has raised a total of $4M across 1 funding round.

Cantaloupe funding rounds

Cantaloupe funding rounds
DateStageInvestorsRaised
Jan 2015SeedFoundation Capital$4M

Who has invested in Cantaloupe?

1 investor has backed Cantaloupe across its funding rounds, including Foundation Capital.


Cantaloupe Investors

Investors in Cantaloupe by funding rounds participated
InvestorHQRoundsRoleFirst check

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Cantaloupe

Cantaloupe has acquired 6 companies to date.

Last acquisition by Cantaloupe was on September 9th 2024. Cantaloupe acquired SB Software for $11M.


Latest Acquisitions by Cantaloupe

SB Software
CHEQ
Three Square Market (32Market)
Yoke Payments
Description
SB Software is a UK-based developer of management software for vending machines and coffee services. The company supplies telemetry systems, cashless payment integrations, and remote monitoring platforms to operators across Europe, enabling real-time inventory tracking and route optimization for automated retail environments.
CHEQ is a San Francisco-headquartered social payments platform designed for in-person transactions at venues like restaurants, stadiums, and hotels. The app enables universal ordering, payments, and even remote sending of food and drinks to friends worldwide. CHEQ preserves venue branding and direct customer relationships while processing contactless payments across the United States.
Three Square Market is a micro-market operator providing unattended retail solutions for workplaces, integrated with its parent company TW Vending's ecosystem. As a division focused on employee amenities, it leverages technology from TurnKey Corrections for kiosks handling payments, inventory, and commissary services. The U.S.-wide network supports corporate sites alongside institutional supply through American Institutional Supply, established in 1991.
Yoke Payments is a mobile point-of-sale application integrating self-checkout with real-time inventory tracking. Merchants generate customized reports without dedicated hardware, eliminating checkout queues. The system serves small retailers in North America, syncing stock levels across locations for streamlined operations.
HQ CountryUnited KingdomUnited StatesUnited StatesUnited States
HQ City
Sheffield
Seattle, WA
Minneapolis, MN
Los Angeles, CA
Deal Date9 Sep 20241 Feb 20245 Dec 202217 Aug 2021
Valuation$11M$5M$41Mundisclosed
EV/Revenue
EV/EBITDA

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Investments by Cantaloupe

Cantaloupe has invested in 1 company to date.

Latest investment by Cantaloupe was on December 15th 2022. Cantaloupe invested in Datacake in their $700K Seed round.


Latest Investments by Cantaloupe

Datacake
Description
Datacake is a low-code IoT platform enabling no-programming development of white-label applications. It supports industrial use cases like asset condition monitoring, remote data logging, real-time dashboards, and analytics integration for sensors and devices. The Berlin-headquartered service connects to MQTT brokers, LoRaWAN networks, and cloud services for global deployments.
HQ CountryGermany
HQ City
Vreden
Deal Date15 Dec 2022
RoundSeed
Raised$700K
InvestorsPredli
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Cantaloupe Competitors

Cantaloupe competitors include listed companies like Cuscal, Worldline and Jiangsu Tongxingbao, and private ones like Lithic, Highnote and Mesh.

Public and private companies comparable to Cantaloupe
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CuscalAustraliaAustraliaPublicly listed$297M$22M$826M5.8x
WorldlineFranceFrancePublicly listed$4.6B($5.2B)$887M0.7x
LithicUnited StatesNew York City, NYPrivate--$800M-
Jiangsu TongxingbaoChinaChinaPublicly listed$159M$47M$949M-
HighnoteUnited StatesSan Francisco, CAPrivate--$750M-
MeshUnited StatesSan Francisco, CAPrivate--$1B-

Cantaloupe Public Comps

Cantaloupe is no longer listed, but its public comps include Cuscal, Worldline, Jiangsu Tongxingbao, Optasia, Isracard, Fawry, GMO Financial Gate, Paysafe, Azkoyen and CPI Card.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Cuscal$297M$22M5.1x5.8x67.8x24.6x
Worldline$4.6B($5.2B)0.6x0.7x(0.6x)3.8x
Jiangsu Tongxingbao$159M$47M2.7x-9.2x-
Optasia$265M$79M4.3x3.6x14.5x9.1x
Isracard$1.2B$48M1.9x-49.8x-
Fawry$166M$73M6.8x5.2x15.4x9.6x
GMO Financial Gate$115M$18M2.8x2.3x17.6x14.7x
Paysafe$1.7B$341M1.6x1.5x7.8x5.9x

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Common questions about Cantaloupe

When was Cantaloupe founded?Cantaloupe was founded in 1992.
Where is Cantaloupe headquartered?Cantaloupe is headquartered in Philadelphia, PA, United States.
Is Cantaloupe publicly listed?No, Cantaloupe was acquired by 365 Retail Markets in June 2025.
Who acquired Cantaloupe?Cantaloupe was acquired by 365 Retail Markets in June 2025.
How much was Cantaloupe acquired for?Cantaloupe was acquired for $848M in June 2025, a 2.9x revenue multiple.
How much funding has Cantaloupe raised?Cantaloupe has raised $4M across 1 funding round.
What was Cantaloupe's last funding round?Cantaloupe's last funding round was a $4M seed round in January 2015.
Who are Cantaloupe's investors?Cantaloupe's investors include Foundation Capital.
Which companies are comparable to Cantaloupe?Companies comparable to Cantaloupe include Cuscal, Worldline, Lithic, Jiangsu Tongxingbao, Highnote and Mesh.
What was Cantaloupe's market cap before the acquisition?Cantaloupe had a market cap of $806M in April 2026, its last month on record as a listed company, trading at 2.6x EV/Revenue.
What was Cantaloupe's revenue as a public company?Cantaloupe's last reported twelve-month revenue was $303M (April 2026), with EBITDA of $47M.
How many companies has Cantaloupe acquired?Cantaloupe has acquired 6 companies, including SB Software, CHEQ, Three Square Market (32Market), Yoke Payments and Cantaloupe.
What was the largest acquisition by Cantaloupe?The $85M acquisition of Cantaloupe in November 2017 is the largest acquisition Cantaloupe has made to date.
How many companies has Cantaloupe invested in?Cantaloupe has invested in 1 company, including Datacake.
What was Cantaloupe's last investment?In December 2022, Cantaloupe invested in Datacake's $700K seed round alongside Predli.

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