Cantaloupe Inc., a leading provider of end-to-end technology solutions for self-service commerce, announced the successful completion of its acquisition of Cheq Lifestyle Technology Inc. (CHEQ). The strategic investment positions Cantaloupe for expansion into the large and rapidly growing sports, entertainment and restaurant sectors with a comprehensive suite of self-service solutions.
By leveraging mobile ordering, socially connected payments, real-time reporting and remote support, CHEQ empowers customers to streamline venue operations, increase efficiency and boost revenue.
Founded in 2021, CHEQ powers payments for numerous professional sports teams, entertainment venues and festival operators including the Washington Commanders (NFL), Florida Panthers (NHL), Philadelphia Union (MLS), Miami Marlins (MLB), CFG Bank Arena in Baltimore (Oak View Group) and Loud & Live (Festivals). CHEQ technology increases food and beverage sales, speeds up transaction times and drives new customer traffic and engagement.
“The acquisition of CHEQ expands Cantaloupe's addressable market into a new and rapidly growing sector,” Ravi Venkatesan, CEO of Cantaloupe Inc., said in the announcement. “There is tremendous synergy between both of our product lines and solutions that will grow our footprint across our combined customer base. We are excited to welcome the CHEQ team to the Cantaloupe family.”
The acquisition expands Cantaloupe’s addressable market into solutions for sport stadiums, entertainment venues, festivals, hospitality, theme parks, full-service and fast-casual restaurants, to provide a comprehensive line of offerings including:
- Enterprise-grade POS platform: Real-time reporting, remote support and back-end analytics for high-volume venues and complex transactions.
- Omnichannel solution: Mobile payments (native app, QR codes, NFC, in-seat delivery, pick up with live wait times), POS kiosks and handheld devices.
- Socially connected: Enables real-time gifting and fosters a sense of community, enhancing fan engagement.
- Team and venue customizations, including key integrations with leading loyalty and team mobile applications.
“We are looking forward to joining Cantaloupe and continuing our mission of delighting guests with a best-in-class on-premise payments experience,” Thomas Lapham, CEO of CHEQ, said in the announcement. “Joining forces will allow us to bring their market-leading innovation to our current customer base, and to expand our technology offering through Cantaloupe’s national and international distribution network.”
CHEQ is a social payments platform, connecting consumers and businesses to create frictionless in-person experiences. CHEQ’s universal ordering and payment app can be used by any restaurant, café, bar or stadium to make transactions easy. Users can send food and drinks directly to their friends from anywhere in the world. CHEQ lets venues retain their unique branding within the application and keep their direct relationships with their guests.
“We are thrilled with the success we’ve seen since implementing CHEQ’s solutions at Amerant Bank Arena,” Florida Panthers Chief Revenue Officer Shawn Thornton, added in the announcement. “CHEQ’s suite of payment options has enhanced the food and beverage experience for our fans and increased our backend operational efficiency.”