Lightspeed POS Inc. to buy Australia-based Kounta Holdings for up to US$61 million

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.

This report by The Canadian Press was first published Oct. 21, 2019.

Companies in this story: (TSX:LSPD)

The Canadian Press