MONTREAL – Lightspeed POS Inc has signed an agreement to buy US company ShopKeep Inc for 440 million US dollars in cash and stock
ShopKeep helps businesses accept any type of payment and provides automatic inventory tracking, employee management and real-time sales reports
As part of the deal, Lightspeed will pay $ 1452 million in cash and issue 95 million subordinate voting shares
The deal, which is subject to customary closing conditions, is expected to close by the end of the company’s quarter ending in December 31, 2020
The announcement came as Lightspeed, which keeps its books in US dollars, reported a loss of $ 19.5 million or 20 cents per share for the quarter ended September 30 against a loss of $ 10 US1 million or 12 cents per share in the same quarter last year
Revenues for what was the digital payment technology company’s second quarter totaled US $ 455 million, up from $ 28 million in the same quarter a year ago
Lightspeed, ShopKeep, Cision PR Newswire, Point of Sale, Stock
World News – CA – Lightspeed POS buys US company ShopKeep for US $ 440 million in cash and stock
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SOURCE: https://www.w24news.com
