At a Glance
Lightspeed, a provider of point-of-sale and eCommerce solutions for shops and restaurateurs, has announced its intention to purchase Shopify rival Ecwid and NuORDER. The acquisition occurs when every company in the world is attempting to transition to the internet sphere and establish a digital presence. Clients of Lightspeed will get access to more digital economy entry points, unrivaled supply chain management, and more capacity to build extraordinary online consumer experiences.
Lightspeed, a company that provides point of sale and eCommerce solutions for retailers and restaurateurs, has announced its plan to buy Shopify competitor Ecwid and NuOrder, a digital catalog builder, for $500 million and $425 million, respectively.
The acquisition occurs when all companies across the globe are trying to move to the online realm and make their digital presence felt.
Lightspeed clients will benefit from additional entry points into the digital economy, unmatched supply chain management, and expanded potential to create exceptional online customer experiences resulting from the acquisitions.
Multi-channel businesses can use Lightspeed’s software to synchronize inventory across all of their locations, take appointments for in-store services, manage Google shopping advertisements, and collect online and in-store payments.
Ecwid is a software-as-a-service platform that allows anybody to create their online store, complete with tools for building websites, handling orders, and receiving payments.
With a drag-and-drop interface for entering graphic and textual material, NuOrder is meant to make it easier for manufacturers to exhibit their inventory to retailers.
The combination of Lightspeed and Ecwid will enable merchants to contact customers wherever they are, whether on social media or through digital marketplaces, allowing for new levels of selling flexibility and omnichannel experiences.
Lightspeed and NuORDER will collaborate to provide an industry-leading bridge between the merchant and supplier experience, easing product ordering for shops while also providing brands with critical data into how their items move.
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.Dax Dasilva, CEO of Lightspeed
Mr. Dasilva added that Lightspeed becomes the common thread unifying merchants, suppliers, and customers by partnering with Ecwid and NuORDER, a transition we think will enable innovative businesses to adapt to the new world of commerce.
Lightspeed was founded in 2005 in Montreal, Canada, and went public on the New York Stock Exchange just nine months ago, after coming public in Toronto in 2019, with its shares more than tripling in value with a market worth of $9.5 billion.