Lightspeed POS Inc. acquired GASTROFIX GmbH from Endeit Capital and others.
January 06, 2020
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Lightspeed POS Inc. (TSX:LSPD) entered into an agreement to acquire GASTROFIX GmbH from Endeit Capital and others for approximately $130 million on January 7, 2020. Under the terms of the transaction, Lightspeed will pay approximately $61 million in cash on closing and the issuance of 1,437,930 subordinate voting shares in the capital of Lightspeed, subject to post-closing working capital adjustment. In addition, certain Gastrofix employees, directly or indirectly, can earn an additional $4 million in deferred cash consideration along with the issuance of 95,464 subordinate voting shares in the capital of Lightspeed, through January 2022 if various performance objectives are met. An additional amount of up to $10.6 million in deferred cash consideration along with the issuance of up to 250,598 subordinate voting shares in the capital of Lightspeed are payable or issuable to the selling shareholders if revenues over perform the planned revenue from the German market in each of the next 2 years. For the year ending December 31, 2019, Gastrofix generated revenue of approximately $12.5 million. Robin Eyben, Joachim Breithaupt, Konstantin Ewald, Anke Freckmann, Antje Günther, Sebastian Hack, Felix Hilgert, Hendrik Schöttle, Thies Goldner of Osborne Clarke acted as legal advisors Stéphane Valorge, Antoine Ganancia, Wael Abou Karam, Ivan Pimentel, Ingmar Wegel, Marc Schäfer of Clipperton acted as Sole Financial Advisor to Gastrofix and its Shareholders. Philip Cavailla, Peter Hellich, Alexander Roth, Clemens Niedner, Ulf Gosejacob, Claus Goedecke, Jens Escher, Michael Kieffer, Verena Ahmann, Kilian Friemel, Christian Maron, Marco Hartmann Rappel, Michael Bruggemann and Adrian Birnbach of Taylor Wessing acted as a legal advisor to Lightspeed. Barbara Koch-Schulte of P + P Pölath + Partners acted as financial advisor to the management of GASTROFIX GmbH.
Lightspeed POS Inc. (TSX:LSPD) completed the acquisition of GASTROFIX GmbH from Endeit Capital and others on January 7, 2020. On January 2, 2020, Lightspeed POS Inc., drew $30 million from its stand-by acquisition term loan with the Canadian Imperial Bank of Commerce to fund a portion of the closing cash consideration for the Gastrofix acquisition. Additional cash payments may also be made and additional Subordinate Voting Shares may be issued through January 2022 contingent upon the achievement of certain performance objectives. Lightspeed assumed $6.49 million cash of GASTROFIX.
Lightspeed Commerce Inc. provides a one-stop commerce platform, which helps merchants to simplify, scale, and provide customer experiences. The Companyâs cloud commerce solution transforms and unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financial solutions, and connection to supplier networks. Its one-stop commerce platform provides its customers with the critical functionalities they need to engage with consumers, manage their operations, accept payments, and grow their business. The Company's products include retail, e-commerce, restaurant and golf. It offers Point of Sale, Payments, eCommerce, Inventory Management, Advanced Marketing, Advanced Reporting, Scanner and others. It also provides POS software, iPad POS system, Cloud POS system and POS cash register. It provides cloud-based Point of Sale systems for retail stores and restaurants. It has customers globally in over 100 countries.
LIGHTSPEED COMMERCE INC. 
