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Lightspeed acquires 2 Global eCommerce companies
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This is big news for Lightspeed (TSX: LSPD) (NYSE: LSPD) ! The company behind cloud-based point-of-sale software (POS) to e-commerce, brick-and-mortar, and omnichannel retailers plans to acquire 2 global digital ecommerce leaders: The Shopify rival Ecwid and the wholesale software provider NuORDER.
The agreements are expected to close by the end of September 2021 for a total of $925 Million USD. The closing of the two acquisitions are not contingent on each other.
Lightspeed ecommerce Software will help unite merchants, suppliers and consumers
According to Lightspeed founder and CEO Dax Dasilva, the combined acquisitions, which will close by the end of September, will help connect merchants, suppliers, and consumers.
this new acquisition will democratize retail for independent businesses worldwide and facilitate the future of Commerce
This acquisition will accelerate the growth of Lightspeed’s financial services offerings(Lightspeed Payments and Lightspeed Capital) and will position the company as a global distribution network for leading retailers & brands, such as Canada Goose, Converse and Arc’teryx.
New ecommerce businesses need fast and easy ways to sell online
Over the past year, commerce has fundamentally transformed: Shoppers are flocking to ecommerce in record numbers.
“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.” said Dax Dasilva, Founder and CEO of Lightspeed, in an official press release
RELATED NEWS:Lightspeed acquires NuORDER & Ecwid for $925 Millions USD
NuORDER, is a software provider designed to connect ecommerce businesses and suppliers. The ecommerce platform makes it easier for brands to showcase their inventory to retailers. Nuorder is based on a drag-and-drop interface that enables inserting visual and textual content in a fast and easy way.
Ecwid is a software-as-a-service platform (Saas) that empowers anyone to create their own digital store within 5 minutes, with tools for creating websites, adding images, social media integrations, managing orders, and accepting payments.
According to Ruslan Fazlyev, this new acquisition will democratize retail for independent businesses worldwide and facilitate the future of Commerce, as the union of these 2 ecommerce platforms is expected to eliminate the barriers merchants face when selling online,