Lightspeed, a Montreal-based POS solution provider, has reportedly announced the takeover of e-commerce platform, Ecwid, for USD 500 million, and NuOrder, a B2B ordering solution that serves wholesalers, retailers, and brands, for USD 425 million.
Speaking about the latest acquisition Dax Dasilva, Founder and CEO, Lightspeed, mentioned that by joining hands with Ecwid and NuOrder the company has become a common link uniting suppliers, merchants, and the consumers, a change that will help retailers adapt to the changing face of commerce.
With economies gradually reopening following restrictions in operations due to the pandemic, Lightspeed aims at strengthening the entrepreneurs with tools that will help them simplify their operations and scale their business, Dax added.
According to a statement by the company, it is expected to pay USD 175 million in cash and USD 325 million in the form of shares to Ecwide. While NuOrder will receive USD 212.5 million in cash and USD 212.5 million in shares.
For the record, Lightspeed is a public-trading entity with a market cap of nearly USD 9.4 billion. The company has been on an acquisition spree in the last several months, with an aim to develop a holistic, one-stop-shop for customers beyond the basics of POS software that has helped the company achieve recognition.
In December 2020, Lightspeed acquired Upserve for USD 430 million to expand its presence in the restaurant sector.
Reportedly, Ecwid initially made its name as a partner of Facebook that helped small businesses scale their offerings on the social media platform, and later expanding to offer tools to the merchants that use services such as Wix and Square, along with other third-party platforms like Google, and Instagram.
Through the latest deal, NuOrder is slated to help Lightspeed broaden its role in supplier transactions and relationships, where Lightspeed has been actively building its business through its Lightspeed Supplier Network.
NuOrder has nearly 3,000 brands and 100,000 retailer clients including Converse, Canada Goose, and Arc’teryx- and Lightspeed claimed that nearly USD 11.5 billion in orders were made through its platform in the year ending March 2021.
The Lightspeed-Ecwid-NuOrder deal is projected to close by the end of September 2021, post necessary regulatory approvals.