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The Montreal payments company said Wednesday it offloaded the business to Miami- and L.A.-based Skyview Equity for up to US$81 million—a steep discount to the roughly US$430 million Lightspeed paid in 2020—as it accelerates efforts to streamline its business and refocus on higher-growth segments. (The Logic)
Talking point: The sale—priced at US$44 million upfront with US$37 million that Lightspeed can earn over 24 months if the divested company meets certain performance targets—marks the first divestiture since CEO Dax Dasilva’s 2024 return. “This transaction is another step toward focusing Lightspeed on the markets where we have the strongest right to win,” he said in a release. The company is doubling down on its core segments—North American retail and European hospitality—which now drive most of its growth. Lightspeed also signalled improving fundamentals, saying fourth-quarter revenue and gross profit will exceed forecasts. National Bank analyst Richard Tse said this “small” divestiture helps remove a drag on the company’s growth. The company’s shares were up 0.32 per cent to $12.40.
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