Lightspeed POS Inc. . , a leading provider of cloud-based omnichannel commerce platforms, announced that Upserve Inc. . , a leading restaurant management cloud software company based in Rhode Island and a portfolio company of Vista Equity Partners. The acquisition strengthens Lightspeed’s position as the industry leader in high performing restaurateurs in the United States as these restaurants refine the digital dining experience.
The merger of Lightspeed and Upserve will accelerate product innovation and further development of Lightspeed’s analytics-driven trading platform. The convergence of teams and technology between the two companies is becoming one of the most competitive hospitality platforms out there and the industry becoming easier to navigate, becoming one of the most competitive hospitality platforms in the United States, from fine dining to multi-location fast-casual restaurants Food needs made permanent by the COVID-19 pandemic.
The acquisition builds on Lightspeed’s growth momentum following its listing on the New York Stock Exchange and the acquisition of ShopKeep, a leading provider of cloud commerce platforms that operates more than 20. 000 customer locations served. By combining it with Upserve, Lightspeed’s position in the U is growing. . S.. . Hospitality market through another 7. 000 customer locations that were opened in the last twelve months up to. Generate over $ 6 billion worth of GTV by September 2020.
« Combining forces with Upserve is a strategic next step in Lightspeed’s vision to provide the most advanced trading platform for top performing companies around the world, » said Dax Dasilva, Founder and CEO. “We believe this acquisition will accelerate the product innovation that has enabled Lightspeed customers to meet the greatest challenge their industry has faced in decades and will give our teams exceptional leadership in anticipation of the global hospitality industry’s economic recovery. ”
“With its analytics-based POS and restaurant management solutions, Upserve has been providing restaurateurs with actionable insights for over a decade. Lightspeed is quickly becoming a leading global trading platform for SMEs. Partnering with them to deliver data-driven insights through a single digital hub was a natural choice, ”said Sheryl Hoskins, CEO of Upserve. “Together, we look forward to empowering North American restaurateurs to deliver superior guest experiences and make them extremely successful. ”
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Lightspeed, Upserve, Stock, Dax Dasilva
World news – CA – Lightspeed announces takeover of Upserve
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