US-based provider of end-to-end technology solutions for self-service commerce Cantaloupe has acquired Cheq Lifestyle Technology.
This strategic move positions Cantaloupe for expansion into the sports, entertainment, and restaurant sectors. CHEQ, specialising in mobile ordering, socially connected payments, real-time reporting, and remote support, aims to enhance venue operations, increase efficiency, and drive revenue.
The acquisition marks Cantaloupe’s entrance into a rapidly growing sector, with notable synergy between both companies’ product lines. In the official press release, representatives from Cantaloupe expressed excitement about the prospect of growing the company’s footprint.
Founded in 2021, CHEQ powers payments for various professional sports teams, entertainment venues, and festival operators, such as the Washington Commanders (NFL), Florida Panthers (NHL), and Philadelphia Union (MLS). The technology was designed to improve food and beverage sales, accelerate transaction times, and support customer traffic and engagement.
What are the main highlights of the acquisition?
Some of the most important aspects of the acquisition include the expansion of Cantaloupe’s market into solutions for sports stadiums, entertainment venues, festivals, hospitality, theme parks, and full-service and fast-casual restaurants. The comprehensive offerings encompass an enterprise-grade POS platform, omnichannel solutions, socially connected features, and team/venue customisations.
Representatives from CHEQ anticipate the collaboration with Cantaloupe will allow them to bring market-leading innovation to their customer base and expand their technology offering through Cantaloupe’s national and international distribution network.
More information about the two companies
CHEQ is a social payments platform focused on creating frictionless in-person experiences. Its universal ordering and payment app caters to various businesses, allowing transactions to be seamless. Cantaloupe specialises in self-service commerce, and its vertically integrated solutions cover micro-payments processing, enterprise cloud software, IoT technology, and kiosk/POS innovations. Cantaloupe’s end-to-end platform strives to improve consumer engagement and sales revenue while driving operational efficiencies for businesses.
In December 2023, Cantaloupe launched new analytics tools in its Seed Pro software platform. Seed Analytics and Seed Intelligence were designed to change how vending operators leverage data for business growth with improved decision-making and increased productivity.
According to the official press release, Seed Intelligence was designed specifically for operators seeking a business intelligence tool. It offers an extensive data warehouse, integrating sales and operational data from Seed Pro with operators’ existing business intelligence tools such as Microsoft Power BI, Tableau, and QlickSense.
This eliminates the need for manual data handling, simplifying the analysis process. Additionally, it allows operators to create custom dashboards with their combined data. By centralising data across platforms, Seed Intelligence aims to facilitate cross-functional reporting.
