WAYNE, Pa.—USA Technologies Inc. announced the completion of its acquisition of Stitch Networks, with approval from its shareholders to authorize the shares required for the transaction.
USA Technologies offers solutions for unattended cashless and m-commerce transactions, associated financial and network services and interactive media technology, while Stitch Networks provides wireless machine-to-machine networking solutions for remote management and control of distributed assets. Together, according to USA Technologies, the companies operate one of the largest networks of unattended, credit card activated vending, laundry and business services in the U.S.
USA Technologies said it believes the acquisition will double its revenues, enhance its skills and intellectual capital and make it a more prominent global enterprise with new customers and a broader product portfolio.
