| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 8 April 2021 |
| Pathway(s) | Significant business assets only |
| Investment | 100% of Vend Limited's shares |
| Consideration | Approximately $490,000,000 |
| Applicant | Lightspeed POS Inc. Canada (53%) United States of America (41%) Various (3%) Japan (2%) United Kingdom (1%) |
| Vendor | Vend Limited Shareholders New Zealand (58.515%) Australia (15.815%) Germany (13.509%) United States of America (8.02%) Singapore (3.12%) Hong Kong (SAR) (1.018%) Various (0.003%) |
| Background | The Applicant is a widely-held point-of-sale and e-commerce software company listed on the Toronto and New York Stock Exchanges. It is acquiring 100% of New Zealand company Vend Limited’s shares. Vend Limited is also a point-of-sale and e-commerce supplier. The Applicant considers the expertise of both the Applicant and Vend Limited in their respective markets will enhance their ability to move products into new international markets. The Applicant has satisfied the OIO that the individuals who will control the investment have the relevant business experience and acumen and are of good character. The Applicant has also demonstrated financial commitment to the investment. |
| More information | Glenn Shewan Bell Gully (Auckland) PO Box 4199 AUCKLAND 1140 |