Lightspeed / Vend 2021
Lightspeed Commerce acquired Vend for $350M on March 17, 2021.
- Target
- Vend
- Acquirer
- Lightspeed Commerce
- Deal value
- $350M
- Deal type
- Mixed
- Announced
- March 17, 2021
- Sub-sector
- Vertical SaaS Payments
Transaction overview
- Lightspeed Commerce announced the acquisition of Vend on March 17, 2021 for approximately USD 350 million.
- Consideration was structured as a mix of cash and Lightspeed shares.
- The transaction closed on April 15, 2021.
- Vend is a cloud-based point-of-sale software company founded in Auckland, New Zealand, serving retail merchants.
- Vend reported more than 25,000 retail customers across over 140 countries at the time of the deal.
- Lightspeed is a Montreal-based commerce platform serving restaurants, retailers, and golf operators.
- Lightspeed acquired Vend to expand its retail POS footprint in Asia-Pacific, Europe, and other international markets.
Why it matters
- The deal gave Lightspeed a stronger retail POS presence in Asia-Pacific, a region where it had limited direct distribution.
- Vend's multi-currency, multi-location architecture extended Lightspeed's reach to smaller independent retailers outside North America.
Strategic rationale
Lightspeed adds Auckland-based retail POS platform with 20,000 customer locations to scale internationally and accelerate omnichannel rollout.
Deal terms & multiples
About Vend
Vend is a cloud-based retail point-of-sale and inventory management software company headquartered in Auckland, New Zealand. Founded in 2010, the company built its platform around browser-based POS software that works on iPad, Mac, and PC hardware. Vend served more than 25,000 retail customers across more than 140 countries at the time of the acquisition. Its customer base skewed toward independent and specialty retailers, including apparel, sporting goods, and home goods merchants.
- Founded
- 2010
- HQ
- New Zealand
- Prior funding
- Approximately USD 60 million raised across multiple rounds, including a Series C in 2015
- Key metric
- 25,000+ retail customers across 140+ countries
About Lightspeed Commerce NYSE: LSPD
Lightspeed Commerce is a Montreal-based cloud commerce platform serving retailers, restaurants, and golf operators. The company listed on the Toronto Stock Exchange in 2019 and subsequently on the New York Stock Exchange in 2020 under the ticker LSPD. Lightspeed's platform covers point-of-sale, payments, inventory, and analytics. The Vend acquisition was one of several deals Lightspeed completed in a rapid expansion phase between 2020 and 2022.
- Founded
- 2005
- Ticker
- NYSE: LSPD
Frequently asked questions
How much did Lightspeed pay for Vend?
Lightspeed paid approximately USD 350 million in a mix of cash and Lightspeed shares.
When did the Lightspeed acquisition of Vend close?
The deal closed on April 15, 2021, about four weeks after the March 17 announcement.
What does Vend do?
Vend provides cloud-based point-of-sale and inventory management software to independent and specialty retailers. At acquisition, it served more than 25,000 customers in over 140 countries.
Why did Lightspeed acquire Vend?
Lightspeed sought to expand its retail POS customer base in Asia-Pacific and other international markets where Vend had established distribution.
Where is Vend headquartered?
Vend is headquartered in Auckland, New Zealand.
Is Lightspeed publicly traded?
Yes. Lightspeed trades on the New York Stock Exchange under the ticker LSPD and is also listed on the Toronto Stock Exchange.
Sources
- lightspeedhq.com /press/lightspeed-acquires-vend/