Lightspeed POS buys Swiss startup to push European expansion in 2019

Canadian cloud-based point of sale (POS) retail innovator Lightspeed which acquired Dutch startup success SEOshop in 2015, and rebranded it as its European Head office now has another news creating waves in the tech startup world. The company has announced that it has completed the acquisition of Switzerland-based iKentoo, a POS solutions provider to small and medium-sized businesses operating within the hospitality industry.

Additional details regarding this transaction will be discussed during Lightspeed’s conference call to discuss first quarter 2020 results, scheduled for August 8, 2019.

iKentoo – iPad POS and management solution

Founded by David Clerc and Serge Sozonof in 2011, iKentoo is the most advanced iPad-based POS and business management system in the market for all types of hospitality businesses, from restaurants to food trucks, huge festivals to pop-up bars, and hotels to coffee shops. The platform serves more than 3,800 customer locations in over 14 countries, with a strong presence in Switzerland, South Africa and France.

David Clerc, Co-Founder of iKentoo, said: 

iKentoo and Lightspeed have in common a core strategic objective to provide cutting-edge solutions and a robust product offering to complex small businesses across several continents. We’re excited about the opportunity to combine forces to bring even more innovative products to a broader customer base.

Supports 49,000 SME’s worldwide

Lightspeed is a cloud-based commerce platform powering small and medium-sized businesses in approximately 100 countries around the world. Founded by Dax Dasilva in 2005, it provides restaurateurs and retailers with the simplest way to run their businesses at full potential. Combining with iKentoo immediately and significantly bolsters Lightspeed’s footprint across the European continent.

Headquartered in Montreal, the company have offices in Amsterdam, Brisbane, Ghent, London, Montreal, New York City, Olympia, Ottawa.

Dax Dasilva, Founder and CEO of Lightspeed, said: 

The addition of iKentoo aligns with our strategy to rapidly increase our global footprint, providing us with meaningful scale in new markets in which Lightspeed previously had a limited presence. We are excited to welcome iKentoo’s entire team and their stellar growth record to the Lightspeed family.

We believe their leading POS solution, respected brand name and large customer base of complex SMBs operating in many of our strongest verticals will perfectly complement our product offering and further enhance our growth trajectory. Furthermore, iKentoo’s domain expertise regarding the markets in which it operates opens doors to accelerating the penetration of our retail product in those new international arenas.

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