Lightspeed POS Inc., the leading provider of cloud-based omnichannel commerce platforms, announced that they have entered into the definitive agreement to acquire ShopKeep Inc. ShopKeep. Inc is a NewYork based leading cloud commerce platform provider. This acquisition makes Lightspeed’s status much stronger as the category leader for the complex retailers and restaurateurs. They are looking for the modernization of the operations due to the unbelievable acceleration of digital transformation for platforms.
The ongoing situation due to the COVID 19 is making the independent businesses to change their legacy point of sale system to understand the changing behavior of the consumers. Lightspeed and ShopKeep have achieved a scale that presents the retailer and the restaurant business owners of the United States who have enhanced their resources to lead their operations in the market.
This acquiring program between Lightspeed and ShopKeep will help ShopKeep’s customers to grow their capabilities using Lightspeed’s loyalty, analytics, and eCommerce. Moreover, Lightspeed’s payment modules, along with the multi-location solution, will also help ShopKeep’s opportunity to enhance its chances.
This acquisition has expanded Lightspeed’s U.S. market share, along with enhances an investment in marketing, sales, and research development to capitalize on the increasing demand for cloud-based omnichannel solutions. The closing of the acquisition will help Lightspeed to serve more ht 100000 customers and locations on the worldwide platform. And this will generate an approx of USD 33 billion of GTV.
As per the Founder and CEO of Lightspeed, Dax Dasilva, ShopKeep’s goal is to help the independent businesses to dream big with enhanced opportunities through the economic challenges and with their power.
The CEO of ShopKeep, Michael DeSimone, expressed his optimistic view about this unity to create more industry-leading commerce for small and medium-sized businesses. He further said that this partnership for digital transformation would help the business owners navigate through the challenging times to keep up with the changing demand of the customers.