Cantaloupe, a digital payments and software company, is weighing strategic options, including a sale or a go-private transaction, Reuters reported, citing sources.
According to the sources, the US-based paytech firm is collaborating with investment bankers at JPMorgan Chase on these plans.
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However, the certainty of a sale materialising is not assured at this time.
Cantaloupe and JPMorgan did not confirm the development.
Cantaloupe provides self-service commerce solutions, specialising in micro-payment processing for secure digital payments.
Its platform is used across various industries, including vending machines, micro markets, EV charging stations, laundromats, parking terminals, amusement venues, and IoT services.
The company carries minimal debt, stated Reuters.
Its solutions are used in the US, UK, Mexico, the European Union, Australia, and Canada.
In December 2024, the company introduced Smart Store, a self-service system where customers pay at the POS, unlock their cart, select items, and complete the purchase.
It offers touchscreens and audio support and integrates with Cantaloupe’s platform for inventory management, with cameras to monitor inventory.
Cantaloupe reported a net income of $4.9m for the second quarter ended 31 December 2024, up from $3.1m in the same quarter of the previous year.
Transaction volume totalled 299.8m, reflecting a 4.6% increase compared to 286.7 million in the second quarter of fiscal year 2024.
Revenue grew 12.8% year-on-year to $73.7m, while adjusted EBITDA increased 25.7% $10.7m.
