Montreal-based Lightspeed has announced the acquisition of e-commerce platforms Ecwid and NuORDER.
These two acquisitions will allow Lightspeed to standardize its retail ecosystem, according to the company.
The acquisition of the Ecwid platform, which generates $20 million in revenue, has cost Lightspeed nearly $500 million in compensation, including a $175 million payment, the rest being met by the issue of “shares with voting rights.
In connection with the acquisition of NuORDER, the company that has experienced strong growth over the past year, it cost $425 million, half of which is cash.
“We believe this transformation will allow innovative retailers to adapt to the new world of commerce,” Dax DaSilva, founder and CEO of Lightspeed, said in a statement.
“With the economic recovery and the acceleration of business creation, we hope to encourage entrepreneurs by providing them with the tools they need to streamline their operations and realize their ambitions,” added Mr. DaSilva.
Both acquisitions must be completed before September 30, if regulatory approvals are obtained in this area.
“Music guru. Incurable web practitioner. Thinker. Lifelong zombie junkie. Tv buff. Typical organizer. Evil beer scholar.”