Retail tech firm Vend sells to frenemy for $480m

Vend chief executive Ana Wight will remain to lead the team in New Zealand and Australia.

Fri, 12 Mar 2021

Kiwi retail software company Vend has been sold to its long-time friend and competitor, Lightspeed, for $480 million after being courted by a long list of suitors.Vend founder Vaughan Rowsell said last year the company had received many takeover offers as covid accelerated the trend towards digital retail.“We were having phone calls literally every other week with people, but we’d obviously known the Lightspeed team for going on ten years now, so they felt like the right people for us to join with,” he told BusinessD...

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