Lightspeed Announces Closing of Acquisition of ShopKeep
Landmark deal cements Lightspeed as a category leader for complex SMBs in the United States as economy undergoes unprecedented digital acceleration
Lightspeed POS Inc., a leading provider of cloud-based, omnichannel commerce platforms, announced the closing of the previously-reported acquisition of ShopKeep Inc. (ShopKeep), a leading cloud commerce platform provider based in New York City. Lightspeed finalized the acquisition for consideration of $145.2 million in cash and the issuance of 7,437,397 subordinate voting shares in the capital of Lightspeed, subject to customary post-closing adjustments. Lightspeed has also assumed ShopKeep’s stock option plan, with the outstanding stock options thereunder converting into options to purchase 1,254,534 subordinate voting shares in the capital of Lightspeed.
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With the closing of this acquisition, Lightspeed now serves over 100,000 customer locations worldwide, generating approximately $33 billion in gross transaction volume1 annually, in each case as of September 30, 2020.
RBC Capital Markets acted as advisor to Lightspeed on the transaction.
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