Venture-backed Lightspeed buys loyalty solution ReUp

Lightspeed, a Montréal-based cloud point-of-sale system for retailers and restaurants, has acquired ReUp, a Toronto-based customer loyalty solution. No financial terms were disclosed. ReUp has been rebranded as Lightspeed Loyalty, an app that provides a range of tools to merchants for targeting and communiciating with new and existing customers. Founded in 2005 by CEO Dax Dasilva, Lightspeed raised US$166 million ($222 million) last year in a Series D financing led by Caisse de dépôt et placement du Québec.

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