Lightspeed Commerce Explores Sale Amid Tech Sector Slump

Montreal-based software vendor hires JP Morgan Chase for strategic review as it considers potential buyouts.

Lightspeed Commerce Inc. is undergoing a strategic review led by JP Morgan Chase to explore a potential sale.
The company's stock surged 13% on the Toronto Stock Exchange following news of the possible takeover.
Founder and former CEO Dax Dasilva returned to lead the company in February, focusing on accelerating sales and improving profitability.
Lightspeed has struggled with profitability despite recent revenue growth and is shifting its focus to larger clients.
The tech sector has seen a wave of privatizations, with nine of 20 tech companies that IPO'd on the TSX during the pandemic already going private.