Lightspeed Commerce Inc. completed the sale of its Upserve U.S. hospitality product line to private‑equity firm Skyview Equity for a total cash consideration of up to $81 million, comprising $44 million in upfront cash and a $37 million earn‑out tied to performance targets. The transaction, finalized on April 28 2026, removes roughly 3,200 U.S. hospitality customer locations and 70 employees from Lightspeed’s portfolio.
Upserve contributed about $140 million in revenue and $26 million in gross profit for fiscal 2026, and generated roughly $5 billion in total gross transaction volume. By divesting this non‑core line, Lightspeed aims to sharpen its focus on its two core growth engines—North American retail and European hospitality—while freeing capital for share repurchases, merchant‑cash‑advance expansion, and product development.
The sale is expected to lift Lightspeed’s gross‑profit margin and provide cash that can be deployed to accelerate outbound sales, deepen payments and capital‑financing businesses, and support the company’s AI‑driven product roadmap. Removing Upserve’s revenue stream will shift the company’s revenue mix toward higher‑margin segments and improve its overall margin profile.
Lightspeed’s share‑repurchase program, authorized for up to $400 million, had approximately $200 million remaining as of April 29 2026. The proceeds from the Upserve sale will help fund these repurchases and support the growth of Lightspeed Capital’s merchant‑cash‑advance business, which originated $257 million in the first nine months of 2025.
Management highlighted the strategic fit of the transaction. Founder and CEO Dax Dasilva said the deal “is another step towards focusing Lightspeed on the markets where we have the strongest right to win.” Interim CEO of Upserve and Managing Director of Skyview Equity Bob Bellack noted that Skyview brings deep experience in software and payments and a commitment to leveraging AI to help restaurants operate better.
The analytics technology that Upserve contributed will remain with Lightspeed as part of its Insights product, ensuring that the company retains valuable data‑driven capabilities while shedding the legacy hospitality line.
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