Lightspeed POS is set to acquire German POS systems developer Gastrofix. The purchase would mark Lightspeed’s largest acquisition to date, with the company spending more than $131 million CAD on the deal.
The purchase will allow Lightspeed to obtain more than 8,000 of Gastrofix’s European customer locations, expand to key regions across Europe, and solidify a stronger presence in Germany, Austria, and Norway. A spokesperson for Lightspeed told BetaKit that all Gastrofix’s team will be joining Lightspeed under the terms of the acquisition, as Lightspeed takes over its Berlin and Hamburg offices.
Gastrofix is expected to have generated revenue of approximately $16.2 million CAD ($12.5 million USD) in 2019. The company was founded in 2011 and directly targets the hospitality industry. Lightspeed has therefore added new hospitality clients, including the Michelin-star Seven Seas restaurant in Hamburg and the Steigenberger Hotels and Resorts.