LightSpeed Retail Inc. of Montreal, a provider of cloud-based software for retailers, has acquired Olympia, Wash.-based rival MerchantOS for an undisclosed price.
The deal provides a boost to LightSpeed’s retail management platform and expands the company’s customer base by more than 2,400 locations. The company’s point-of-sale services are now used in roughly 15,000 store locations.
Acquiring MerchantOS is expected to enable LightSpeed to engage in-store shoppers and allow them to buy products from a wide range of mobile devices. Until now, the company’s services have been specific to devices and software only from Apple Inc. (Nasdaq: AAPL), including iPads and iPhones.
LightSpeed is backed by Palo Alto, Calif.-based venture capital firm Accel Partners, which made a $30 million investment in the company in June 2012.