MONTREAL — Lightspeed, an e-commerce platform solutions provider, announced June 7 it has entered a definitive agreement to acquire two other digital commerce companies, Ecwid and NuORDER, for an undisclosed amount.
The acquisition will expand Lightspeed’s digital commerce offerings, supply chain management tools and online customer experiences.
"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," said Dax Dasilva, founder and chief executive officer of Lightspeed. "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."
The announcement comes at a time when e-commerce players are carving out an increasing slice of market share in many industries, including pet care. In May, Packaged Facts announced online product sales now make up roughly 30% of total pet care sales in the United States, up from just 8% in 2015. Online-only players such as Chewy and Amazon are dominating this space, and more and more traditionally brick-and-mortar pet retailers are going online to compete in the rapidly growing channel.
"The distinction between online and brick-and-mortar retail has disappeared,” said Ruslan Razlyev, chief executive officer of Ecwid. “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 is based in the United States. The business provides tools for retailers to create their own standalone e-commerce platforms and, when combined with Lightspeed capabilities, will offer omnichannel audience reach tools through social media or digital marketplaces.
NuORDER helps connect businesses with suppliers in the e-commerce channel. Lightspeed hopes to leverage this capability to “create an industry-leading bridge between the merchant and supplier experience,” as well as simplify product ordering and offer product movement insights to brands.
"At NuORDER, we have been on a journey to revolutionize retail by building a global network for brands and retailers,” SAID Olivia Skuza and Heath Wells, co-founders and co-chief executive officers at NuORDER. “The coming together of Lightspeed and NuORDER accelerates that vision exponentially. The power of connected commerce comes to life now. 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."
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