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By joining forces with Ecwid and NuOrder, Lightspeed looks to become the common thread uniting merchants, suppliers and consumers.
It was a busy day for Lightspeed, the Montreal-based commerce platform that's dual-listed on the New York Stock Exchange and the Toronto Stock Exchange. It has entered into definitive agreements to acquire NuOrder, the digital wholesale e-commerce platform, and Ecwid, a U.S.-based global e-commerce platform, for a combined consideration of about $925 million.
Lightspeed will acquire NuOrder for about $425 million, satisfied by way of payment on closing of about $212.5 million in cash and the issuance of subordinate voting shares in the capital of Lightspeed valued at about $212.5 million. The deal is expected to close during the quarter ended Sept. 30 after applicable regulatory approvals.
NuOrder, founded in 2011, serves more than 3,000 brands and saw 100,000-plus retailers generate more than $11.5 billion in orders through its platform in the trailing 12-month period ended March 31. It achieved revenues of more than $20 million and grew at a rate exceeding 30 percent year-over-year during the same period.
Ecwid, which allows customers to create stand-alone businesses in minutes bringing e-commerce to the masses, serves more than 130,000 paying customers in 100-plus countries. In the period ended March 31, Ecwid generated revenues of over $20 million, growing at a rate of more than 50 percent year-over-year.
Lightspeed will acquire Ecwid for about $500 million, satisfied by way of payment on closing of about $175 million in cash and of Lightspeed shares valued at about $325 million. The deal, which is subject to customary closing conditions and post-closing working capital adjustment, is expected to close during the quarter ended Sept. 30, after applicate regulatory approvals.
Lightspeed, which was founded in 2005, is a one-stop commerce platform and serves retail, hospitality and golf businesses in more than 100 countries. It has teams across North America, Europe and Asia Pacific. The company helps merchants simplify, scale and provide exceptional customer experiences. Its cloud solution unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financing and connection to supplier networks. It has a market capitalization of more than $11 billion.
"By joining forces with Ecwid and NuOrder, Lightspeed becomes the common thread, uniting merchants,...