Lightspeed Commerce Inc. is prepared to offload additional business units as it continues to reshape its portfolio following the recent sale of its U.S. restaurant technology division, Upserve.
The Montreal-based point-of-sale software company sold the Upserve unit at a significant loss, realizing only a fraction of its original investment, according to reports from The Globe and Mail.
Chief executive officer Dave McKay indicated that the company remains open to further divestitures, signaling a strategic pivot away from underperforming segments.
The move underscores a broader effort to streamline operations and concentrate resources on higher-growth opportunities within the core commerce software business.
The decision to exit the Upserve segment reflects the challenges Lightspeed has faced in integrating and scaling its U.S. restaurant operations.
By shedding this declining business, the company aims to improve its financial profile and enhance focus on its primary merchant services and software offerings.