Strategic Acquisition Enhances Cantaloupe's
Market Leadership Across Europe, Integrating Advanced Vending,
Coffee and Micro Market Technology for Optimized Operations and
Customer Experience
Cantaloupe, Inc. (Nasdaq: CTLP) (Cantaloupe), a global leading
provider of end-to-end technology solutions for self-service
commerce, today announced the acquisition of SB Software Limited
(SB Software), a leading provider of vending and coffee management
software solutions in the UK and Ireland. This strategic
acquisition is set to enhance Cantaloupe’s operational capabilities
and market reach throughout Europe, positioning the company for
further growth and innovation globally.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240909506324/en/
(Graphic: Business Wire)
By integrating SB Software’s Vendmanager and Coffeemanager
systems with Cantaloupe’s existing technologies, Cantaloupe aims to
create a comprehensive suite of solutions that deliver a seamless
user experience and enhanced operational efficiencies. This
integration will provide existing Cantaloupe customers direct
access to a premier vending and coffee management software that
includes advanced features such as real-time data analytics, and
integrated payments, including Cantaloupe’s card readers available
today for European clients.
"We are thrilled to welcome SB Software into our portfolio as we
expand our reach across Europe," said Ravi Venkatesan, CEO of
Cantaloupe, Inc. "This acquisition is poised to enhance
Cantaloupe’s operational capabilities and market reach in Europe,
including the expansion of micro markets and the standardization of
Cantaloupe's payment processing solutions across SB Software's
client base. With our combined expertise and shared commitment to
innovation and excellence, we are uniquely positioned to offer
high-quality, localized support and tailored solutions that meet
the evolving needs of our customers.”
Founded in 2008, SB Software has established a strong presence
in the UK and Ireland for their tailored vending and coffee
management software, including mobile and warehouse integrated
solutions that make servicing, routing, stocking, and back-office
management simple and efficient for operators. With over 30,000
licensed subscriptions, SB Software is known for its trusted
enterprise-level solutions and recent accolades at the Vendies 2024
for Best Customer Service and Best Ancillary Product or
Service.
“This combination of our two companies marks a major milestone
in our journey and opens significant new opportunities for growth
and innovation,” said Simon Black, managing director of SB
Software. “Our commitment to providing high-quality, localized
support and tailored solutions will continue as we integrate with
Cantaloupe. We believe that joining Cantaloupe will enhance our
ability to serve our customers better by leveraging Cantaloupe’s
extensive resources and expertise, along with offering our clients
a single partner for all of their business needs today and into the
future.”
About Cantaloupe Inc.
Cantaloupe, Inc. (Nasdaq: CTLP), is a global technology
leader powering self-service commerce. Cantaloupe offers a
comprehensive suite of solutions including 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 solutions enhance
operational efficiency and consumer engagement across sectors like
food & beverage markets, smart automated retail, hospitality,
entertainment venues and more. Committed to innovation, Cantaloupe
drives advancements in digital payments and business optimization,
serving over 30,000 customers in the U.S., U.K., EU countries,
Australia, and Mexico. For more information, visit cantaloupe.com
or follow us on LinkedIn, Twitter (X), Facebook, Instagram or
YouTube.
Forward-looking Statements:
All statements other than statements of historical fact included
in this release, including without limitation Cantaloupe’s future
prospects and performance, the business strategy and the plans and
objectives of Cantaloupe's management for future operations, are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. When used in this
release, words such as “may,” “could,” “expect,” “intend,” “plan,”
“seek,” “anticipate,” “believe,” “estimate,” “guidance,” “predict,”
“potential,” “continue,” “likely,” “will,” “would” and variations
of these terms and similar expressions, or the negative of these
terms or similar expressions, as they relate to Cantaloupe or its
management, may identify forward-looking statements. Such
forward-looking statements are based on the reasonable beliefs of
Cantaloupe's management, as well as assumptions made by and
information currently available to Cantaloupe's management. Actual
results could differ materially from those contemplated by the
forward-looking statements as a result of certain factors,
including but not limited to general economic, market or business
conditions unrelated to our operating performance, including
inflation, rising interest rates, financial institution
disruptions, public health emergencies and declines in consumer
confidence and discretionary spending; our ability to compete with
our competitors and increase market share; failure to comply with
the financial covenants in the Amended JPMorgan Credit Facility;
our ability to raise funds in the future through sales of
securities or debt financing in order to sustain operations in the
normal course of business or if an unexpected or unusual event were
to occur; our ability to maintain compliance with rules and
regulations applicable to our business operations and industry;
disruptions in or inefficiencies to our supply chain and/or
operations; the risks related to the availability of, and cost
inflation in, supply chain inputs, including labor, raw materials,
packaging and transportation; weather, climate conditions, natural
disasters or other unexpected events; whether our current or future
customers purchase, lease, rent or utilize our devices, software
solutions or our other products in the future at levels currently
anticipated; whether our customers continue to utilize the
Company’s transaction processing and related services, as our
customer agreements are generally cancellable by the customer on
thirty to sixty days’ notice; our ability to acquire and develop
relevant technology offerings for current, new and potential
customers and partners; risks and uncertainties associated with our
expansion into and our operations in Europe, Latin America and
other foreign markets, including general economic conditions,
policy changes affecting international trade, political
instability, inflation rates, recessions, sanctions, foreign
currency exchange rates and controls, foreign investment and
repatriation restrictions, legal and regulatory constraints, civil
unrest, armed conflict, war and other economic and political
factors; our ability to satisfy our trade obligations included in
accounts payable and accrued expenses; our ability to attract,
develop and retain key personnel, or our loss of the services of
our key executives; the incurrence by us of any unanticipated or
unusual non-operating expenses, which may require us to divert our
cash resources from achieving our business plan; our ability to
predict or estimate our future quarterly or annual revenue and
expenses given the developing and unpredictable market for our
products; our ability to integrate acquired companies into our
current products and services structure; our ability to add new
customers and retain key existing customers from whom a significant
portion of our revenue is derived; the ability of a key customer to
reduce or delay purchasing products from us; our ability to obtain
widespread commercial acceptance of our products and service
offerings; whether any patents issued to us will provide any
competitive advantages or adequate protection for our products, or
would be challenged, invalidated or circumvented by others; our
ability to operate without infringing the intellectual property
rights of others; the ability of our products and services to avoid
disruptions to our systems or unauthorized hacking or credit card
fraud; geopolitical conflicts, such as the ongoing conflict between
Russia and Ukraine and the conflict between Israel and Hamas;
whether we are able to fully remediate our material weaknesses in
our internal controls over financial reporting or continue to
experience material weaknesses in our internal controls over
financial reporting in the future, and are not able to accurately
or timely report our financial condition or results of operations;
the ability to remain in compliance with the continued listing
standards of the Nasdaq Global Select Market ("Nasdaq") and
continue to remain as a member of the US Small-Cap Russell 2000®;
whether our suppliers would increase their prices, reduce their
output or change their terms of sale; and the risks associated with
cyber attacks and data breaches; or other risks discussed in
Cantaloupe’s filings with the U.S. Securities and Exchange
Commission, including but not limited to its Annual Report on Form
10-K for the year ended June 30, 2023. Readers are cautioned not to
place undue reliance on these forward-looking statements. Any
forward-looking statement made by us in this release speaks only as
of the date of this release. Unless required by law, Cantaloupe
does not undertake to release publicly any revisions to these
forward-looking statements to reflect future events or
circumstances or to reflect the occurrence of unanticipated events.
If Cantaloupe updates one or more forward-looking statements, no
inference should be drawn that Cantaloupe will make additional
updates with respect to those or other forward-looking
statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240909506324/en/
Investor Relations: cantaloupeIR@icrinc.com
Media: Jenifer Howard | 202-273-4246
jhoward@jhowardpr.com media@cantaloupe.com
Grafico Azioni Cantaloupe (NASDAQ:CTLP)
Storico
Da Dic 2024 a Gen 2025
Grafico Azioni Cantaloupe (NASDAQ:CTLP)
Storico
Da Gen 2024 a Gen 2025
