On the 5th of June 2021, Lightspeed, the one-stop commerce platform for traders across the globe announced the closing of the previously initiated acquisition of NuORDER. The acquisition will establish Lightspeed as the industry-leading bridge between merchants and suppliers and will allow the global commerce platform to simplify, scale, and create exceptional customer experiences.
Lightspeed finalized the acquisition of cash consideration of approximately $206.9 million, net of cash acquired, and the issuance of $2,143,393 subordinate voting shares in the capital of Lightspeed at closing, subject to customary post-closing adjustments. An additional 500,629 subordinate voting shares in the capital of Lightspeed will be issued to certain NuORDER employees over the next 3 years, contingent on the achievement of certain milestones. With the acquisition ordering for retailers and offer suppliers such as Canada Goose, Converse, and Arc’teryx critical insights and tracking into how their products move will be simpler.
The acquisition establishes Lightspeed as a global distribution network for leading brands, capitalizing on the early success of the Lightspeed Supplier Network.
NuORDER currently serves more than 3,000 brands and witnessed more than 100,000 retailers process more than $11.5 billion in orders through its platform in the twelve months ended March 31, 2021. The company generated a revenue of over $20 million and grew at a rate of more than 30% year-over-year during the same period.
Lightspeed, headquartered in Montreal Quebec, is the one-stop commerce platform for merchants to simplify, scale, and provide exceptional customer experiences. They empower the businesses with cloud solutions to transform and unify online and physical operations, multichannel sales, expansion to new locations, global payments, financing, and connection to supplier networks. Founded in the year 2005, Lightspeed has teams across North America, Europe, and the Asia Pacific and the company serves retail, hospitality, and golf business in over 100 countries.
NuORDER is the leading wholesale eCommerce platform helping brands and retailers grow and win together. The company, headquartered in Los Angeles, California was found in the year 2011 and specializes in B2B eCommerce, Customized catalogs and line sheets, visual merchandising, and thus, empowers sales reps and buyers. The platform was engineered with flexibility and scale in mind and empowers businesses of all sizes with enterprise-level technology.