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Cantaloupe pays $41M to acquire Three Square Market

December 5, 2022

Cantaloupe provides digital payments and related software for self-service commerce, including all types of vending machines. The acquisition of 32M comes just months after Cantaloupe promoted its former chief operating officer, Ravi Venkatesan, to the CEO post in October, following the exit of its prior CEO, Sean Feeney.

Cantaloupe, which has about 25,000 customers, had already entered the micro market, partly by tapping the services of 32M. The acquisition adds 32M self-service kiosks, self-service coolers and cloud-based software to the Cantaloupe operations. In some cases, 32M’s software is already connected to Cantaloupe’s platform, allowing the two businesses to now easily upsell and cross-sell across their combined clientele, Venkatesan said in the release.

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