Lightspeed selling U.S. hospitality business Upserve to Skyview Equity

An employee works at Lightspeed Commerce in Montreal, Thursday, Jan. 18, 2024. THE CANADIAN PRESS/Christinne Muschi

MONTREAL — Lightspeed Commerce Inc. says it has sold its Upserve hospitality business in the U.S. to Skyview Equity in a deal worth up to US$81 million.

Under the agreement, Lightspeed will receive US$44 million in cash plus the possibility of up to an additional US$37 million tied to performance targets over a 24-month period.

Lightspeed says the sale is part of its strategy to streamline its portfolio and concentrate on its core growth areas, including retail in North America and hospitality in Europe.

Lightspeed founder and chief executive Dax Dasilva says the analytics technology it acquired with Upserve formed the foundation of Lightspeed Insights, which will remain with Lightspeed as a core component of the company’s flagship restaurant solution.

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The Upserve operations being sold cover about 3,200 U.S. hospitality customer locations and about 70 employees, who are expected to join Skyview in connection with the sale.

Lightspeed is scheduled to report its fourth quarter and full-year financial results on May 21.

This report by The Canadian Press was first published April 29, 2026.