Kiwi SaaS supplier Vend grabbed by Canada’s Lightspeed in US$350 M offer

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Vaughan Fergusson (Vend)

Vaughan Fergusson (Vend)

Credit: Vend

New Zealand cloud-based retail administration software program supplier Vend has actually struck an offer to be gotten by Canadian omnichannel business services supplier Lightspeed for US$350 million. .

Founded by supervisor Vaughan Fergusson (formerly Rowsell) in 2010, Auckland-based Vend has actually taken place to produce earnings of about US$34 million and also gross deal worth of greater than US$ 7 billion in the tracking twelve-month duration finishing 31 December 2020 alone.

Lightspeed, on the other hand, is headquartered in Montreal and also openly provided in both Canada and also the United States. The business asserts clients in greater than 100 nations and also a yearly gross deal worth of around US$20 billion.

While the complete purchase worth concerns US$350 million, about US$1925 countless this will certainly remain in cash money and also US$1575 million in the type of subservient ballot shares in the funding of Lightspeed.

The Vend purchase is anticipated to see Lightspeed expand its client base by greater than 20,000 client areas globally and also approximately increase its client base in the Asia Pacific area.

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