Lightspeed Commerce Inc. is open to further divestitures of its business assets, CEO Dax Dasilva said Thursday [1].
This shift in strategy comes as the Montreal-based company attempts to refocus its operations on growth. The move follows the recent sale of the Upserve unit, which resulted in a loss for the company [1].
Dasilva said the organization is evaluating its current portfolio to determine which segments align with its long-term goals. The decision to consider more sales suggests a departure from previous expansion efforts that sought to broaden the company's reach across various software sectors [1].
"Lightspeed Commerce Inc. is open to more divestitures," Dasilva said [1].
The company has not specified which other units or assets may be targeted for sale. However, the focus on growth suggests a desire to streamline the business and eliminate underperforming or non-core assets that may be hindering overall agility, a common tactic for firms facing pressure to improve their financial margins [1].
Upserve, the U.S.-based unit previously sold, played a role in the company's attempt to dominate the restaurant point-of-sale market. The financial loss associated with that sale has prompted a more cautious approach to asset management [1].
“"Lightspeed Commerce Inc. is open to more divestitures,"”
Lightspeed's willingness to sell more assets indicates a strategic pivot from aggressive acquisition to a leaner operational model. By shedding non-core units, the company is likely attempting to stabilize its balance sheet and improve investor confidence following the financial disappointment of the Upserve sale.
