EX-99.1
2
ex99_1.htm
EXHIBIT 99.1
Exhibit 99.1
Nov 9, 2017
USA Technologies Completes Acquisition of Cantaloupe Systems
MALVERN, Pa.--(BUSINESS WIRE)-- USA Technologies, Inc. (NASDAQ:USAT) ("USAT"), a premier payment technology service provider of integrated cashless and mobile transactions in the self-service retail market, today announced the completion of its previously announced acquisition of Cantaloupe Systems, Inc. ("Cantaloupe"), a premier provider of cloud and mobile solutions for vending, micro markets, and office coffee service, in a transaction valued at approximately $85 million. USAT paid $65 million in cash and issued shares of USAT common stock valued pursuant to the merger agreement at $19.81 million. USAT also assumed $1.8 million of Cantaloupe's notes payable. USA Technologies funded the transaction with cash on hand from the recent public offering which closed in July 2017, and through a new $37.5 million credit facility with JP Morgan Chase Bank, N.A. Cantaloupe is now a wholly-owned subsidiary of USAT and will continue to operate from its San Francisco, California office.
About USA Technologies
USA Technologies, Inc. is a premier payment technology service provider of integrated cashless and mobile transactions in the self-service retail market. The company also provides a broad line of cashless acceptance technologies including its NFC-ready ePort® G-series, ePort® Connect, ePort® Interactive, QuickConnect, an API Web service for developers, and MORE., a customizable loyalty program. USA Technologies has 76 United States and foreign patents in force; and has agreements with Verizon, Visa, Chase Paymentech and customers such as Compass, AMI Entertainment and others. For more information, please visit the website at www.usatech.com.
F-USAT
View source version on businesswire.com: http://www.businesswire.com/news/home/20171109006063/en/
The Blueshirt Group
Investors:
Monica Gould, +1 212-871-3927
monica@blueshirtgroup.com
or
Lindsay Savarese, +1 212-331-8417
lindsay@blueshirtgroup.com
Source: USA Technologies, Inc.
News Provided by Acquire Media

EX - 99 . 1 2 ex99 _ 1 . htm EXHIBIT 99 . 1 Exhibit 99 . 1 Nov 9 , 2017 USA Technologies Completes Acquisition of Cantaloupe Systems MALVERN , Pa . -- ( BUSINESS WIRE ) -- USA Technologies , Inc . ( NASDAQ : USAT ) ( " USAT " ) , a premier payment technology service provider of integrated cashless and mobile transactions in the self - service retail market , today announced the completion of its previously announced acquisition of Cantaloupe Systems , Inc . ( " Cantaloupe " ) , a premier provider of cloud and mobile solutions for vending , micro markets , and office coffee service , in a transaction valued at approximately $ 85 million . USAT paid $ 65 million in cash and issued shares of USAT common stock valued pursuant to the merger agreement at $ 19.81 million . USAT also assumed $ 1.8 million of Cantaloupe 's notes payable . USA Technologies funded the transaction with cash on hand from the recent public offering which closed in July 2017 , and through a new $ 37.5 million credit facility with JP Morgan Chase Bank , N . A . Cantaloupe is now a wholly - owned subsidiary of USAT and will continue to operate from its San Francisco , California office . About USA Technologies USA Technologies , Inc . is a premier payment technology service provider of integrated cashless and mobile transactions in the self - service retail market . The company also provides a broad line of cashless acceptance technologies including its NFC - ready ePort ® G - series , ePort ® Connect , ePort ® Interactive , QuickConnect , an API Web service for developers , and MORE . , a customizable loyalty program . USA Technologies has 76 United States and foreign patents in force ; and has agreements with Verizon , Visa , Chase Paymentech and customers such as Compass , AMI Entertainment and others . For more information , please visit the website at www.usatech.com . F - USAT View source version on businesswire.com : http://www.businesswire.com/news/home/20171109006063/en/ The Blueshirt Group Investors : Monica Gould , + 1 212 - 871 - 3927 monica@blueshirtgroup.com or Lindsay Savarese , + 1 212 - 331 - 8417 lindsay@blueshirtgroup.com Source : USA Technologies , Inc . News Provided by Acquire Media
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