Fenwick & West acted as special counsel to Cantaloupe Systems, Inc., a leading provider of cloud and mobile solutions for vending, micro markets and office coffee services, in its pending acquisition by USA Technologies, Inc. (NASDAQ: USAT), a premier payment technology service provider of integrated cashless and mobile transactions in the self-serve retail markets. USA Technologies will pay $65 million in cash and issue approximately $20 million in stock. The transaction is expected to close later in the week and is subject to usual and customary closing conditions.
As a strategic acquisition, the purchase will merge best-in-class payments and software systems for the unattended and self-serve retail markets, allowing USA Technologies to expand both its product offering and geographic reach. More information about Cantaloupe’s acquisition by USA Technologies can be obtained from the company press release.
Roger Hauptman of Hauptman, LLC acted as lead corporate counsel to Cantaloupe Systems. The Fenwick transaction team included corporate lawyers Mark Stevens, Scott Behar, Kate Dodson and Jeremy Kazzaz; executive compensation and employee benefits lawyers Gerald Audant and Nicholas Frey; and tax lawyer Will Skinner.