Point-Of-Sale Outfit Lightspeed Moves Into Aussie Market
Lightspeed PoS, a Canadian point-of-sale platform for around 51,000 customer locations worldwide, has agreed to buy Australia-based Kounta Holdings, a nascent, cloud-based PoS provider focused on the hospitality industry for approximately US$35.3 million in cash and 306,290 subordinate voting shares in Lightspeed.
The purchase bolsters Lightspeed’s footprint across Australia and New Zealand by more than 7000 customer locations, spread via small- and medium-sized brands across cafes, bars, full-service restaurants and high-end boutique hotels.
Dax Dasilva, founder and CEO of Lightspeed, said combining with Kounta will strengthen Lightspeed’s resources and its expansion into the Asia-Pacific region, while tapping the talent and expertise needed to accelerate Lightspeed’s global ambitions.
“Kounta’s impressive track record is thanks to its team, and we are excited to welcome them into the Lightspeed family,” said Dasilva. “When smart minds collaborate, our merchants are the main beneficiaries of the resulting innovation, ultimately enabling SMBs around the world to reach their full potential through our technology.”