LIGHTSPEED ACQUIRES NUORDER AND ECWID

Montreal-based commerce platform Lightspeed announced Monday that it has acquired two global leaders in digital commerce for about $925 million in total. The acquisitions will provide Lightspeed customers with new digital capabilities, enhanced supply chain management, and enhanced online customer experiences.

Lightspeed will acquire B2B digital platform NuORDER. The partnership’s aim is to create an industry-leading bridge between the merchant and supplier experience by simplifying product ordering for retailers and offering brands insight into how their products move. Lightspeed will acquire NuORDER for about $425 million by way of payment on the closing of $212.5 million in cash and the issuance of subordinate voting shares in the capital of Lightspeed valued at approximately $212.5 million. The deal is expected to close during the quarter ending on September 30, 2021.

The acquisition of NuORDER capitalizes on the Lightspeed Supplier Network to accelerate the growth of Lightspeed’s financial services offerings including Lightspeed Payments and Lightspeed Capital while establishing the company as a distribution network for leading brands such as Canada Goose, Converse, and Arc’teryx.

Lightspeed also announced a definitive agreement to purchase U.S.-based e-commerce platform Ecwid which allows customers to create standalone businesses in a short time. Once integrated, the combination of Lightspeed and Ecwid will allow for selling flexibility and omnichannel experiences. Lightspeed acquired Ecwid for about $500 million including payment on the closing of approximately $175 million in cash and issuance of subordinate voting shares in the capital of Lightspeed valued at approximately $325 million. The deal is also expected to close on September 30, 2021.

“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. “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.”

“At NuORDER, we have been on a journey to revolutionize retail by building a global network for brands and retailers,” said Olivia Skuza and Heath Wells, co-founders and co-CEOs of NuORDER, in a joint statement. “The coming together of Lightspeed and NuORDER accelerates that vision exponentially. The power of connected commerce comes to life now. We are thrilled to join forces with Lightspeed to unlock transformative value for brands and retailers globally. This represents an inflection point in the history of retail.”

NuORDER serves over 3,000 brands with about 100,000 partner retailers seeing more than $11.5 billion in orders through its platform over the course of the year, generating over $20 million in annual revenue with a year-over-year growth rate exceeding 30 percent. Ecwid currently serves over 130,000 customers in over 100 countries globally and had revenue of over $20 million last year with 50 percent growth year-over-year.