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Oct 21, 2019

Lightspeed to buy Australia-based Kounta Holdings for up to US$61M

Hap Sneddon discusses Lightspeed

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MONTREAL -- Lightspeed POS Inc. says it has reached deal valued at a roughly US$61.4-million to buy Kounta Holdings Pty. Ltd., an Australia-based technology company that focuses on point-of-sale services.

Montreal-based Lightspeed says it will pay US$35.3 million in cash and about US$7.7 million in deferred shares for Kounta on closing.

The deal also has Lightspeed on the hook for about US$15 million of contingent payouts in cash and shares to some Kounta employees, and a separate US$3.4 million payment to one selling shareholder.

Lightspeed says Kounta runs a point-of-sale platform with more than 7,000 customer locations in Australia and New Zealand that will strengthen its expansion into the Asia-Pacific region.

It says the deal also gives it access to expert staff already working on point-of-sale software.

Lightspeed, which went public in March, says it has more than 50,000 customer locations worldwide.