The acquisition spree continued today at Montreal headquartered Lightspeed POS (TSX: LSPD). The supplier of retail sales solutions has snapped up two more companies as they continue to diversify their offering in an effort to help brick and mortar retailers better connect with shoppers through digital channels.
Ecwid is a US-based eCommerce platform that allows customers to create standalone businesses in minutes. Once integrated into the Lightspeed suite of products, the combination of Lightspeed and Ecwid will help merchants to reach shoppers where they are, whether on social media or digital marketplaces, ushering in new sales flexibility and omnichannel experiences.
The NuORDER acquisition is designed to help create a bridge between merchants and suppliers, simplifying product ordering for retailers and offering brands crucial insight into how their products move. The thinking is to continue building on the Lightspeed Supplier Network, and further develop Lightspeed’s financial services, including Lightspeed Payments and Lightspeed Capital, while establishing the company as a global distribution network for its customers.
“By joining forces with Ecwid and NuORDER, Lightspeed becomes the common thread uniting merchants, suppliers and consumers, a transformation we believe will enable innovative retailers to adapt to the new world of commerce,” said Dax Dasilva, Founder and CEO of Lightspeed. “As economies reopen and business creation accelerates, we hope to embolden entrepreneurs with the tools they need to simplify their operations and scale their ambitions.”
The transaction to acquire Ecwid will be worth approximately $500 million, including a payment of $175 million in cash and issuance of subordinate voting shares in the capital of Lightspeed valued at approximately $325 million.
Lightspeed will acquire NuORDER for an estimated $425 million, including a payment on closing of $212.5 million and the issuance of subordinate voting shares in the capital of Lightspeed also valued at $212.5 million. Both deals remain subject to customary closing conditions, and are expected to close during the third quarter of this year.