Overview of Transaction

• On November 5, 2020, Lightspeed, a leading provider of cloud-based, omnichannel commerce platforms, announced it has entered into a definitive agreement to acquire ShopKeep Inc., a cloud commerce platform provider based in New York City
• The acquisition is valued at approximately $565 million in total consideration, comprised of $145.2 million in cash and the issuance of 7,437,397 subordinate voting shares in the capital of Lightspeed, based on the closing price of Lightspeed stock on November 23, 2020
• Founded in 2008, ShopKeep’s point-of-sale platforms are used by more than 20,000 retail and restaurant customer locations nationwide generating a gross transaction volume of approximately $7 billion USD per year
• The acquisition reinforces Lightspeed’s status as a clear category leader for retailers and restaurateurs seeking to modernize operations as the global economy undergoes unprecedented digital acceleration

Significance of Transaction

• The acquisition will grow Lightspeed’s U.S footprint by more than 20,000 customer locations and help drive Lightspeed’s plan to accelerate digital transformation of SMBs across the United States following its public listing on the New York Stock Exchange
• The acquisition by Lightspeed will add crucial modules to the ShopKeep merchant experience, including complex inventory and sales management capacity ideal for multi-location businesses, while also providing a broader product portfolio to enhance brand loyalty, acquire new customers and retain clientele
• Lightspeed’s acquisition of ShopKeep follows the successful integration of multiple premier platforms, including those of Montreal-based Chronogolf, Berlin-based Gastrofix and Sydney-based Kounta

FT Partners' Role

• FT Partners served as exclusive financial and strategic advisor to ShopKeep
• This transaction highlights FT Partners’ deep domain expertise in the Software and Payments sectors, and its successful track record generating highly favorable outcomes for high-growth FinTech companies globally