SENNA

PE-Backed PayRange Acquires KioSoft Technologies

PayRange, a commerce platform for unattended retail backed by private equity firm GI Partners, has acquired KioSoft Technologies, a provider of payment and management solutions for kiosks and vending machines. Financial terms of the deal were not disclosed.

The acquisition strengthens PayRange's position in the growing unattended retail market, which has seen increased demand as consumers seek contactless payment options. KioSoft's technology allows operators to remotely manage their kiosks and vending machines, while also providing customers with mobile payment capabilities.

"This acquisition allows us to further expand our reach and enhance the experience for both operators and consumers in the unattended retail space," said Prashant Kanhere, CEO of PayRange. "KioSoft's innovative solutions and talented team will be a valuable addition as we continue to drive innovation and growth in this dynamic market."

Founded in 2013 and headquartered in Portland, Oregon, PayRange provides a mobile payment and loyalty platform for vending, laundry, amusement, and other self-serve kiosks. The company's technology enables consumers to pay for purchases and earn rewards through a mobile app, eliminating the need for cash or coins.

KioSoft, based in Beaverton, Oregon, has developed a suite of cloud-based management tools and mobile payment integrations for unattended retail operators. The company's solutions are used by thousands of kiosks and vending machines across North America.

"Joining forces with PayRange allows us to accelerate our vision of transforming the unattended retail experience," said Bala Ganesh, CEO of KioSoft. "Together, we will be able to offer operators a more comprehensive set of capabilities to drive efficiency and engagement in this rapidly evolving market."

The acquisition comes as the unattended retail industry continues to evolve, with growing consumer demand for contactless and mobile payment options. According to industry estimates, the global unattended retail market is expected to reach $32 billion by 2025, driven by the proliferation of self-service kiosks and the increasing adoption of digital payment technologies.

"This deal highlights the strategic value of technology-enabled solutions in the unattended retail space," said a senior analyst at a leading investment bank. "As consumer preferences shift, operators are seeking more sophisticated platforms to enhance the customer experience and drive operational efficiencies."

For GI Partners, the acquisition of KioSoft represents another step in its investment thesis around the digitization of physical retail. The firm has been actively investing in companies that are leveraging technology to transform traditional industries.