Malvern Fintech Company Makes $41 Million Acquisition in Effort to Go Global

malvern fintech
Image via Cantaloupe.
Malvern-based fin-tech company Cantaloupe acquired 32M for $41 million.

A Malvern-based fintech company is looking to expand its presence overseas. Cantaloupe recently acquired Wisconsin-based Three Square Market (32M), which has offices in the U.K. The sale was $41 million, writes Jeff Blumenthal for the Philadelphia Business Journal. 

“The acquisition of 32M, with its expansive portfolio of micro-market technology and broad geographic footprint, immediately accelerates two of our most important strategic growth priorities,” said Cantaloupe CEO Ravi Venkatesan.  

32M is a software company for self-service kiosk points of sale while Cantaloupe focuses on cashless and mobile transactions. The deal, Cantaloupe says, will add 3,000 locations across places such as North America, U.K., Sweden, and Romania.  

“We can now better leverage Cantaloupe’s Seed platform with our existing customers, both in the U.S. and other geographies, and expect to benefit from a combined salesforce to help our products reach more customers,” said 32M President Tony Danna. 

Since Ventatsan became CEO in October, this is the company’s first acquisition. It was funded with 90 percent cash and 10 percent stock.  

Read more about the latest acquisition in the Philadelphia Business Journal.  

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