Lightspeed has picked up two more companies in what is shaping up to be an acquisition spree for the Canadian point-of-sale software provider. The company today announced that it would acquire e-commerce platform Ecwid for $500 million; and NuOrder, a B2B ordering platform servicing wholesales, brands and retailers, for $425 million.
Together, the two deals underscore the long-anticipated consolidation trend swirling around the fragmented e-commerce industry, at a time when digital transactions are playing an ever more critical role in the Covid-impacted global economy, and smaller players are looking for better ways to compete against behemoths like Amazon and Stripe with a mix of tools and services addressing the various needs of merchants, brands, suppliers and everything in between.
“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, in a statement. “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.”
Growth strategies are changing and The Strawhecker Group (TSG) is at the forefront of helping ISVs and payments providers drive revenue.
ARE YOU A SOFTWARE PROVIDER? Does your company have software that processes transactions that leaves you wondering about becoming a payments provider?
ARE YOU A PAYMENTS PROVIDER? Is your ISV strategy keeping you up at night? Payments providers that don’t invest in software through partnerships or acquisitions risk falling behind in a rapidly evolving marketing. TSG can help target attractive verticals, key players, and use data to help you plan and execute a strategy.
Want more? Discover even more tools for success here.