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Lightspeed Commerce shares soared by 15% following news that the Canadian payments software company is exploring a potential sale.
The Montreal-based firm, valued at C$2.8 billion ($2.08 billion), has partnered with JPMorgan to evaluate its options and seek potential buyers, including private equity firms, according to sources familiar with the matter.
The sale discussions come after Lightspeed recently replaced its CEO, Jean Paul Chauvet, with founder Dax Dasilva, following concerns over the company’s focus on growth rather than profitability. While talks are still in the early stages, no deal is guaranteed at this time.
Since going public five years ago, Lightspeed’s stock has lost over a third of its value, but today’s surge reflects renewed market interest. Investors are closely watching developments as Lightspeed navigates potential changes under Dasilva’s leadership.
As of 3:01 PM the shares were trading 13.10% higher at $15.71
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