Lightspeed sells underperforming U.S. unit Upserve for fraction of $430-million paid in 2020 [Globe and Mail, The (Toronto, Canada)]
Lightspeed Commerce Inc. Subordinate Voting Shares (LSPD)
Company Research
Source: Globe and Mail, The
Lightspeed said in a release Wednesday it had sold Upserve, which serves U.S. hospitality vendors, for US$44-million to Skyview Equity, plus another US$37-million that can be earned over 24 months if the divested company meets certain unspecified performance targets. It is Lightspeed's first divestiture and marks one of the most significant moves of a turnaround plan that began after founder Dax Dasilva returned as chief executive officer in early 2024, two years after handing the reins to his former second-in-command Jean Paul Chauvet. “This transaction is another step towards focusing Lightspeed on the markets where we have the strongest right to win,” Mr. Dasilva said in the release. He stated that Upserve's analytics technology had “formed the foundation” of Lightspeed's insights product, which will remain with the Montreal company as a core component of its product for restaurants. Lightspeed also said in the release its revenue and gross profit will be ahead of forecast for
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News
- Lightspeed Commerce Divests Upserve U.S. Hospitality Product Line to Skyview Equity For US$81 Million [Yahoo! Finance]Yahoo! Finance
- Lightspeed Commerce Divests Upserve U.S. Hospitality Product Line to Skyview Equity [Yahoo! Finance]Yahoo! Finance
- Lightspeed Commerce Divests Upserve U.S. Hospitality Product Line to Skyview Equity [TheStreet.com]TheStreet.com
- Lightspeed Commerce Divests Upserve U.S. Hospitality Product Line to Skyview EquityPR Newswire
- Lightspeed Commerce (LSPD) had its price target lowered by Barclays PLC from $12.00 to $11.00. They now have an "equal weight" rating on the stock.MarketBeat
LSPD
Sec Filings
- 4/29/26 - Form 6-K
- 4/9/26 - Form 6-K
- 3/16/26 - Form 144
- LSPD's page on the SEC website