Lightspeed to spend $100-million to expand point-of-sales in Europe with largest acquisition yet GlobeTechnology
This translation has been automatically generated and has not been verified for accuracy.Montreal’s Lightspeed POS Inc. announced Tuesday that it will spend more than US$100-million in cash and stock to buy German competitor Gastrofix GmbH and expand within Europe.
The cloud-based retail point-of-sale service provider was one of just two Canadian IT companies to go public on the Toronto Stock Exchange last year. It has since been on a global acquisition spree., it bought Australian POS software firm Kounta Holdings Pty Ltd. for US$43-million in cash and stock plus an additional US$18-million in potential performance payouts.
Kounta was Lightspeed’s biggest acquisition at the time, until it revealed Tuesday that it would offer Berlin-based Gastrofix US$61-million in cash and US$40-million in shares, at a value of US$28.16 per share. The deal also includes about US$11-million in potential future payouts tied to goals such as hitting performance targets.Gastrofix brings 8,000 client locations with it, giving Lightspeed a significant footprint in Germany, Austria, Norway and other European markets.
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