Lightspeed to Snap Up eCommerce Platforms Ecwid, NuORDER for $925M

  • Commerce platform Lightspeed POS Inc LSPD inked an agreement to acquire eCommerce platform Ecwid for $500 million via $175 million cash and $325 million subordinate voting shares.
  • Ecwid reported revenue of over $20 million, growing at around 50% year-over-year in the year ended March 31, 2021.
  • Lightspeed also forged an agreement to acquire digital platform NuORDER for $425 million via $212.5 million cash and $212.5 million subordinate voting shares.
  • NuORDER reported revenue of over $20 million and grew at around 30% Y/Y.
  • Both the deals are estimated to close during the quarter ended September 30, 2021.
  • Lightspeed held $807.2 million in cash and equivalents as of March 31, 2021.
  • Price action: LSPD shares traded higher by 2.16% at $73.40 on the last check Monday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: M&ANewsTechMediaBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!