![]() The power of connected commerce comes to life now,” said NuOrder co-founders and co-CEO’s Olivia Skuza and Heath Wells in a statement. The coming together of Lightspeed and NuORDER accelerates that vision exponentially. “At NuORDER, we have been on a journey to revolutionize retail by building a global network for brands and retailers. Like Ecwid, NuOrder also posted revenues of $20 million in that period its growth rate was 30% year-over-year. NuOrder has 3,000 brand and 100,000 retailer customers - some of them include Canada Goose, Converse and Arc’teryx - and Lightspeed said that some $11.5 billion in orders were made through its platform in the year that ended in March. NuOrder, meanwhile, will help Lightspeed deepen its role in supplier relationships and transactions - an essential cornerstone in how commerce works and one where Lightspeed had already been building a business, by way of its Lightspeed Supplier Network. By eliminating the barriers merchants face when selling online, we will only more rapidly achieve our common vision of democratizing retail for independent businesses worldwide and enrich the communities they serve,” said Ruslan Fazlyev, Ecwid CEO, in a statement. Lightspeed and Ecwid, two best-in-class platforms, will unite to truly empower businesses. “The distinction between online and brick-and-mortar retail has disappeared. The deal, which is subject to customary closing conditions and post-closing working capital adjustment, is expected to close during the quarter ended Septemafter the receipt of applicable regulatory approvals. It currently has 130,000 paying customers across 100+ countries and Lightspeed said it had revenue of more than $20 million in the year that ended in March, with growth of 50% year-over-year. The company - originally founded in Russia - had largely been under the venture radar until last year, when it raised $42 million from Morgan Stanley and PeakSpan Capital, to double down on growth.Īnd that growth has been good. That has also included acquiring Upserve in a $430 million deal in December to deepen its presence in the restaurant industry. It has been on an acquisition march in the last several months, with the bigger picture being to build a complete, end-to-end, one-stop shop for customers beyond the basics of the point-of-sale software that helped the company make its name. Lightspeed is publicly traded and has a market cap of about $9.4 billion. Both deals are expected to close at the end of September, pending regulatory and other approvals. Lightspeed will pay $175 million in cash and $325 million in shares for Ecwid, and $212.5 million in cash and $212.5 million in shares for NuOrder, the company said. ![]() “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.” “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, in a statement. Together, the two deals underscore the long-anticipated consolidation trend swirling around the fragmented e-commerce industry, at a time when digital transactions are playing an ever more critical role in the COVID-impacted global economy, and smaller players are looking for better ways to compete against behemoths like Amazon and Stripe with a mix of tools and services addressing the various needs of merchants, brands, suppliers and everything in between. ![]() The company today announced that it would acquire e-commerce platform Ecwid for $500 million, and NuOrder, a B2B ordering platform servicing wholesales, brands and retailers, for $425 million. Lightspeed has picked up two more companies in what is shaping up to be an acquisition spree for the Canadian point-of-sale software provider.
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