Payments

PayRange acquires Vagabond

Image: Adobe Stock.

May 8, 2023

PayRange Inc., a provider of a mobile payment app and hardware for automated retail, has acquired Vagabond, a mobile, cloud-based technology platform that offers real-time business intelligence for the convenience services industry, according to a press release. Terms of the transaction were not disclosed.

The acquisition will strengthen the PayRange mobile commerce platform by adding a vending machine software solution as well as an app based micro-market solution. The Vagabond software solution helps operators monitor and track inventory, plan and map their routes, predict restockings and perform accountability and reporting functions.

The Vagabond products complement the existing PayRange solutions and expand its offering to both operators and consumers, unlocking frictionless purchasing experiences while delivering new operational management solutions.

PayRange and Vagabond have had an integration for many years allowing shared customers to benefit from a vending management software system without the need to have telemetry hardware nor a data connection to every machine.

"We see this acquisition as a way to combine the best of both companies," Paresh Patel, founder and CEO of PayRange, said in the press release. "It is a natural fit and advances our goal of growing the PayRange platform by adding additional products and services that can help operators grow their business and help them save costs."

"Our team has been passionate about advancing technology to further modernize unattended retail, and it's an honor to bring our business intelligence expertise to a mobile payment platform used by thousands of operators and millions of consumers a day," stated Michael Lovett, founder and CEO of Vagabond.