Technology company LightSpeed acquired competitor MerchantOS for an undisclosed sum, giving the firm a much broader reach in the world of point-of-sale software.
LightSpeed plans to merge its existing services with MerchantOS, which currently serves retailers in almost 2,500 locations.
The deal opens up a new universe of users for the traditionally Apple-centric LightSpeed. The company is also releasing LightSpeed Cloud, a point-of-purchase system for the Web at iPad.
The Montreal-based LightSpeed was founded in 2005 by chief executive officer Dax Dasilva and named Quebec’s fastest-growing company in 2011. Venture capital firm Accel Partners invested $30 million in the firm last year.
Over the past year or so, the company’s reach has more than doubled to about 15,000 store locations, which includes brands such as Adidas; McLaren; Bonobos; Treasure & Bond, a division of Nordstrom, and Toms Shoes.
Dasilva hopes that the new platform- and device-agnostic Cloud — it already has an iPad-optimized version — will widen the reach of services and help the company to partner with bigger national chains that have deeper inventory and more complex back-end systems. Now, any retailer with a desktop computer and browser can use LightSpeed’s technology. Partners will also have the ability to download catalogues directly from suppliers.
"I was driving back on Saturday afternoon from the beach, and I just saw this sign saying 'Skydiving for $95.' And I was like, I can't not sky dive for $95," says Tom Bateman about a moment in Hawaii while shooting "Snatched." #wwdeye (📷: @vsteves; Interview by @ktauer; Styled by @thealexbadia)