The Montreal-based point-of-sale technology company said the cash-and-shares acquisition of the retail-management software firm will help Lightspeed expand in the Asia-Pacific region. (The Logic)
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The Montreal-based point-of-sale technology company said the cash-and-shares acquisition of the retail-management software firm will help Lightspeed expand in the Asia-Pacific region. (The Logic)
Talking point: Lightspeed continues its global acquisition binge with this deal. In December 2020, the company purchased restaurant-management software company Upserve for US$430 million and cloud commerce platform ShopKeep for US$440 million. Acquisitions helped fuel Lightspeed’s 79 per cent revenue increase in its fiscal third quarter (or about 53 per cent discounting the acquisitions of ShopKeep and Upserve). In an interview with The Globe, Lightspeed chief executive Dax Dasilva said he hopes to sell additional Lightspeed services such as e-commerce and loyalty offerings to Vend’s customers. The company plans to use about US$192.5 million in cash and $157.5 million in shares to fund the acquisition, which it expects to close in April if approved by regulators.
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