USA Technologies Announces Rebrand to Cantaloupe
New Name Better Aligns with Company’s New Vision, Mission and Values
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“This is a major milestone for us, as Cantaloupe already has built great equity in the industry, strong customer loyalty and communicates our vision to become the leading hardware and software platform for a contactless economy,” said
The Cantaloupe launch signals a fresh vision and approach to the market, our stakeholders and shareholders. The brand’s unveiling in 2021 will be the culmination of an extensive rebranding effort that reflects the Company’s evolution into software and Platform as a Service (PaaS), its path toward strategic growth and renewed corporate strategy. The rebrand will also include a new logo and updated website, which will reflect the Company’s new vision, mission and values, better aligning to its true value proposition.
On the design level, the new Cantaloupe logo is a symbol that represents innovation, simplicity and differentiation through the use of the color orange, and the play on the letter “C” from the brand name. It combines five seed elements representing the strategic pillars of our values, goals and proprietary technology. Our company’s culture and passion for the customer is highlighted in our “People First, Dedicated to Customer Success, Always Do the Right Thing, the
Cantaloupe is rooted in the Company’s commitment to deliver innovative solutions and the best customer service. The Company’s PaaS is a true end to end solution, designed to adapt to changing retail trends and market demands. It also represents the dynamic developments in payment systems, as the world moves to contactless solutions. It creates value for its customers as they acclimate to the industry’s changes, by helping them optimize their performance, modernize their operations and find new avenues for growth.
All statements other than statements of historical fact included in this release, including without limitation the business strategy and the plans and objectives of USAT's management for future operations, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this release, words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions, as they relate to USAT or its management, may identify forward-looking statements. Such forward-looking statements are based on the reasonable beliefs of USAT's management, as well as assumptions made by and information currently available to USAT's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to the incurrence by USAT of any unanticipated or unusual non-operational expenses which would require us to divert our cash resources from achieving our business plan; the uncertainties associated with COVID-19, including its possible effects on USAT’s operations and the demand for USAT’s products and services; the ability of USAT to retain key customers from whom a significant portion of its revenues is derived; the ability of USAT to compete with its competitors to obtain market share; the ability of USAT to make available and successfully upgrade current customers to new standards and protocols; whether USAT's existing or anticipated customers purchase, rent or utilize ePort or Seed devices or our other products or services in the future at levels currently anticipated by USAT; or other risks discussed in USAT’s filings with the
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