Lightspeed to Acquire ShopKeep

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Lightspeed to Acquire ShopKeep

By Anna Wolfe - 11/05/2020

Lightspeed POS Inc. has entered into a definitive agreement to acquire ShopKeep Inc.

This acquisition reinforces Lightspeed's status as a leader for restaurateurs seeking to modernize their operations as the global economy undergoes unprecedented digital acceleration.

The scale achieved by the combination of Lightspeed and ShopKeep presents retail and restaurant business owners in the United States with enhanced resources to pivot their operations. Lightspeed's analytics, loyalty, eCommerce, and payments modules, in addition to its multi-location solution, will offer ShopKeep's customer base the opportunity to enhance their capabilities.

The acquisition immediately expands Lightspeed's U.S. market share, allowing for increased investment in sales, marketing, and research and development to capitalize on the increasing demand for modern, cloud-based, omnichannel commerce solutions. Following the closing of the acquisition, Lightspeed will serve over 100,000 customer locations worldwide, generating approximately $33 billion USD in gross transaction volume.

The acquisition will generate strong expected synergies resulting from increased GTV, the ability to leverage integrated go-to-market resources and a combined payments opportunity. Once closed, Lightspeed's acquisition of ShopKeep will follow the successful integration of multiple premier platforms that experienced accelerated growth following their acquisitions by Lightspeed, including that of Montréal-based Chronogolf, Sydney-based Kounta and Berlin-based Gastrofix.

 

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