Benzinga | Jun 7, 2021 11:17AM EDT

Lightspeed to Snap Up eCommerce Platforms Ecwid, NuORDER for $925M

* Commerce platform Lightspeed POS Inc (NYSE:LSPD) inked an agreement to acquire eCommerce platform Ecwid for $500 million via $175 million cash and $325 million subordinate voting shares.

* Ecwid reported revenue of over $20 million, growing at around 50% year-over-year in the year ended March 31, 2021.

* Lightspeed also forged an agreement to acquire digital platform NuORDER for $425 million via $212.5 million cash and $212.5 million subordinate voting shares.

* NuORDER reported revenue of over $20 million and grew at around 30% Y/Y.

* Both the deals are estimated to close during the quarter ended September 30, 2021.

* Lightspeed held $807.2 million in cash and equivalents as of March 31, 2021.

* Price action: LSPD shares traded higher by 2.16% at $73.40 on the last check Monday.