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Lightspeed ramps up their digital and eCommerce foothold with their announcement this week of two acquisitions, collectively totaling approximately $925 million in value. Lightspeed is signaling their continued intention to focus on and provide payment solutions for digital commerce. Lightspeed is set to acquire Ecwid, a U.S.-based eCommerce platform serving over 130,000 paying customers, for a total consideration of $500 million, of which $175 million will be paid in cash while the remaining $325 million will be in Lightspeed stock. Additionally, Lightspeed’s deal to acquire NuORDER, a digital platform that connects businesses and suppliers, went for a total consideration of approximately $425 million, of which half will be paid in cash and half in stock. Once closed, the combination of these two acquisitions will help accelerate Lightspeed’s ability to offer intuitive digital marketplace solutions and seamless payment experiences to their growing merchant base.
In other M&A news, Toast announced their acquisition of xtraCHEF, an ISV platform geared towards the restaurant vertical. With this acquisition, Toast is able to further build out their end-to-end product offering by adding improved line-item cost data and AP automation tools their customers and their suppliers.