Lightspeed POS has acquired fellow point-of-sale solution Kounta in a deal worth around $35m. ?
By combining their services, Lightspeed will be able to further enhance it customer experiences as it expands into the Asia-Pacific region.
Kounta is an Australian cloud-based point of sale solution for restaurants and merchants, helping them process digital payments and complete business management tasks such as taking inventory or analysing transaction trends.
The company, which was founded in 2012, is reached a revenue of around $6.4m for the fiscal year ending June 30 2019.
Lightspeed is acquiring all the outstanding shares in Kounta for around $35m but also has an additional $7.5m in deffered cash consideration.
With this acquisition, Lightspeed will increase its reach across Australia and New Zealand by over 7,000 customer locations.
Lightspeed founder and CEO Dax Dasilva said, “Kounta’s impressive track record is thanks to its team, and we are excited to welcome them into the Lightspeed family.
“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.”
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