Commerce platform Lightspeed said this week that it plans to acquire two companies, Ecwid and NuORDER. The acquisitions will help its merchant customers sell online and manage their supply chains, the company said.
Ecwid is an ecommerce platform that enables its customers to create standalone online businesses. Its integration into the Lightspeed platform will help merchants reach consumers on social media and online, according to the Lightspeed announcement.
“The distinction between online and brick-and-mortar retail has disappeared. Lightspeed and Ecwid, two best-in-class platforms, will unite to truly empower businesses. By eliminating the barriers merchants face when selling online, we will only more rapidly achieve our common vision of democratizing retail for independent businesses worldwide and enrich the communities they serve,” Ecwid CEO, Ruslan Fazlyev, said in the press release.
The second acquisition, NuORDER, connects businesses with suppliers. Building on its own network connecting retailers and vendors, Lightspeed expects the integration of NuORDER to help simplify ordering product for retailers and provide deeper insights about product performance to their suppliers.
“At NuORDER, we have been on a journey to revolutionize retail by building a global network for brands and retailers. The coming together of Lightspeed and NuORDER accelerates that vision exponentially. The power of connected commerce comes to life now,” NuORDER co-founders and co-CEOs Olivia Skuza and Heath Wells said.
“We are thrilled to join forces with Lightspeed to unlock transformative value for brands and retailers globally. This represents an inflection point in the history of retail.”
Lightspeed will pay about $500 million for Ecwid and about $425 million for NuORDER. The transactions are expected to close by the end of September.
“By joining forces with Ecwid and NuORDER, Lightspeed becomes the common thread uniting merchants, suppliers and consumers, a transformation we believe will enable innovative retailers to adapt to the new world of commerce,” Dax Dasilva, founder and CEO of Lightspeed, said.
“As economies reopen and business creation accelerates, we hope to embolden entrepreneurs with the tools they need to simplify their operations and scale their ambitions.”
Lightspeed offers point-of-sale systems for retailers, restaurants and golf courses. The company is also registered as a payment facilitator.