Lightspeed offloads Upserve at a discount as transformation plan continues

Montréal-based Lightspeed Commerce is selling off one of its business units for much less than it paid for it. The e-commerce and point-of-sales firm announced on Wednesday morning that it is divesting its US hospitality product line, Upserve, to private equity firm Skyview Equity for up to $81 million USD ($111 million CAD) in cash. The transaction will pay Lightspeed $44 million USD up front, with the remaining $37 million subject to earnout over 24 months, based on performance targets.