Research Desk Line-up: ACI Worldwide Post Earnings Coverage
LONDON, UK / ACCESSWIRE / November 9, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for USA Technologies, Inc. (NASDAQ: USAT) ("USAT"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=USAT. The Company announced on November 07, 2017, that it has entered into a definitive agreement to acquire Cantaloupe Systems, Inc. ("Cantaloupe") for approximately $85 million. For immediate access to our complimentary reports, including today's coverage, register for free now at:
Discover more of our free reports coverage from other companies within the Technical & System Software industry. Pro-TD has currently selected ACI Worldwide, Inc. (NASDAQ: ACIW) for due-diligence and potential coverage as the Company announced on November 02, 2017, its financial results for Q3 2017 which ended on September 30, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on ACI Worldwide when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on USAT; also brushing on ACIW. Go directly to your stock of interest and access today's free coverage at:
Collective Product and Service Portfolio to Provide Customers with True Enterprise Software Platform
Stephen P. Herbert, Chairman and Chief Executive Officer (CEO) of USAT, stated that Cantaloupe is a strategic acquisition for USAT's business, as it will expand the latter's product offering and its reach. Combining the two best-of-breed Companies will provide an exciting opportunity for customers, shareholders, partners, and employees. Herbert believes that the strength of the teams, as well as the collective product and service portfolio, will provide customers with a true enterprise software platform which is unrivaled in the market. The combined entity will offer both teams an opportunity to provide a world-class solution to the market that is second to none.
Terms of the Agreement
- USAT will pay $65 million cash and issue approximately $20 million in stock for the acquisition. The Company will also assume up to $1.8 million of Cantaloupe's notes payable.
- The transaction is expected to be accretive in the fiscal year 2018, post one-time acquisition and integration related expenses.
- The transaction, likely to close later this week, is subject to customary closing conditions.
Financial and Legal Advisors
William Blair & Co. served as the financial advisor, and Lurio & Associates P.C., Ballard Spahr LLP, and RatnerPrestia served as legal advisors to USAT.
Strategic Benefits of the Acquisition
- Cantaloupe's existing customer-base in the United States, Canada, Australia, and South America, would help USAT to expand into new global markets.
- The acquisition will bring together complementary portfolios and industry's top solutions for the purpose of providing a unified platform, unparalleled service, and unrivaled value to customers in the unattended retail market.
- The collective technologies will result in decreased operational costs, increased sales, and the ability for customers to run their business in a more efficient and competitive way.
USAT's Financial Strength Will Enable Cantaloupe to Drive Mainstream Adoption of its Technology
Commenting on the acquisition, Mandeep Arora, Co-Founder and CEO of Cantaloupe, stated that the combination of Cantaloupe's award-winning, proven logistics and cloud technology, coupled with USAT's market-leading, robust and secure payment capabilities will bring a truly distinctive, turn-key enterprise solution to the market. He added that USAT's financial strength and industry footprint of around 13,000 customers will enable Cantaloupe to drive mainstream adoption of its technology and execute on its product vision.
About USA Technologies, Inc.
Founded in 1992 and headquartered in Malvern, Pennsylvania, USAT 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 Mobile™ for customers on the go, ePort® Interactive, and QuickConnect, an API Web service for developers.
About Cantaloupe Systems, Inc.
Established in 2002, Cantaloupe is the vending industry's premier provider of cloud-based, mobile technologies that deliver an integrated end-to-end vending and payment solution for cashless vending, dynamic route scheduling, automated pre-kitting and merchandising, and inventory management, all accessible by any mobile device. The Company is based in San Francisco, California.
Last Close Stock Review
On Wednesday, November 08, 2017, the stock closed the trading session flat at $6.60. A total volume of 799.64 thousand shares have exchanged hands, which was higher than the 3-month average volume of 354.13 thousand shares. USA Technologies' stock price soared 28.16% in the last three months, 40.43% in the past six months, and 53.49% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have skyrocketed 53.49%. At Wednesday's closing price, the stock's net capitalization stands at $325.05 million.
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email firstname.lastname@example.org. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily