Lightspeed POS Inc., a Montreal-based cloud technology company that helps B2B and retail businesses sell through multiple channels, is about to spend nearly $1 billion to raise its scope of ecommerce technology and services offerings.

Dax Dasilva, CEO, Lightspeed POS Inc.

Lightspeed is known for providing such technology as ecommerce and point-of-sale systems for retailers and restaurants. It also provides POS systems and other technology for companies that manage golf courses. Now, it is planning to broaden its offerings by paying about $500 million in cash and stock for Ecwid, an Encinitas, California-based provider of ecommerce technology that Ecwid says is used by more than 200,000 merchants worldwide.

Lightspeed is also planning to pay about $425 million in cash and stock for NuOrder, a company that provides ecommerce and related technology designed to let brand manufacturers sell merchandise to retailers through online product catalogs, virtual showrooms and online trade shows.

NuOrder lets retailers buy merchandise online from more than 3,000 brands, including Canada Goose, Converse, Coach, Tecnica and Steve Madden. Retailers using NuOrder’s technology include Nordstrom, Saks Fifth Avenue and Bloomingdale’s.

For the 12 months ended March 31, NuOrder says that more than 100,000 retailers processed more than $11.5 billion in orders through its technology platform.

“By joining forces with Ecwid and NuOrder, Lightspeed becomes the common thread uniting merchants, suppliers and consumers, a transformation we believe will enable innovative retailers to adapt to the new world of commerce,” says Dax Dasilva, founder and CEO of Lightspeed. “As economies reopen and business creation accelerates, we hope to embolden entrepreneurs with the tools they need to simplify their operations and scale their ambitions.”

Lightspeed says it expects to close on the deals in the third quarter.

Earlier this year, Lightspeed launched the Lightspeed Supplier Network, providing retail merchandise buyers with direct online access to supplier’s product catalogs.

For the fiscal year ended March 31, Lightspeed reported an 83.8% year-over-year increase in revenue to $221.73 million, as its net loss widened to $124.28 million from $53.43 million amid sharp increases in sales-and-marketing, research-and-development and other expenses.

Sign up for a complimentary subscription to Digital Commerce 360 B2B News, published 4x/week, covering technology and business trends in the growing B2B ecommerce industry. Contact editor Paul Demery at [email protected] and follow him on Twitter @pdemery.

Follow us on LinkedIn and be the first to know when new Digital Commerce 360 B2B News content is published.