PROVIDENCE – 365 Retail Markets, a company within the portfolio of Providence-based private investment firm Providence Equity Partners, has announced the acquisition of self-service commerce technology company Cantaloupe Inc., combining Cantaloupe’s payments, telemetry and global device network with 365’s self-checkout and software systems.
This move aims to enhance 365’s offerings in unattended retail by integrating Cantaloupe’s network by allowing 365 to broaden market reach and cater to sectors beyond traditional vending and food service operations, including hospitality, entertainment and transit hubs.
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365 Retail Markets CEO Joe Hessling said the acquisition has the potential to create a more seamless consumer experience in retail.
“We are thrilled to have completed the acquisition of Cantaloupe,” he said. “The addition of their great products … will certainly go a long way to onboard nearly 40,000 new customers and introduce them to the 365 suite of products and services.”
Jeffrey Dumbrell, chief revenue officer at Cantaloupe, said as the demand for micro-retail in nontraditional sectors becomes stronger, “we anticipate that the expanded capabilities enabled through this combination will allow for highly customized, readily available retail that benefits consumers by meeting them where they need it.”
Christopher Allen is a PBN staff writer. You may contact him at Allen@PBN.com.
