The 30-something founders of MerchantOS are working for new owners after the Olympia company that makes point-of-sale software for small retailers was acquired Wednesday by LightSpeed, a similar business based in Montreal.
Justin Laing and Ivan Stanojevic, who co-founded MerchantOS in 2003, now have new titles with LightSpeed, Laing said Wednesday.
Laing is director of cloud technology, while Stanojevic becomes director of cloud services.
“We will continue on as the technical leads for the cloud product,” Laing said, combining their expertise with what he called the “awesome design, sales and marketing team” at LightSpeed.
Cloud technology refers to software that is Internet-based and requires no
LightSpeed gains an office in Olympia, plus has offices in Montreal, Ottawa, New York and plans to open a new office in San Francisco, Laing said.
He said he will split his time between Olympia and the Bay Area.
Terms of the acquisition were not disclosed.
“The addition of MerchantOS to the LightSpeed cloud team enhances LightSpeed’s leadership of the rapidly growing inventory-centric retail software market and expands LightSpeed’s customer base by over 2,400 locations,” LightSpeed officials said in a news release Wednesday.
Laing said the combined companies will serve about 15,000 retailers.
Laing and Stanojevic originally are from California, but Laing later moved to the area when his wife attended The Evergreen State College.
Laing, a software developer and, Stanojevic, who worked at a bike shop, worked on their software product for four years with no pay.
Asked about his compensation Wednesday and Laing said, “It’s generous.”
MerchantOS, which occupies office space on the top floor of the Evergreen Plaza building on Capitol Way, eventually grew to 23 employees, Laing said.
“It’s a pretty big deal to have an Olympia tech company that is growing in national and international markets,” he said about the merger, adding that he hopes one day LightSpeed will employ thousands.
Alpine Experience of Olympia, Joy Ride Bikes of Lacey and Wagner’s Bakery of Olympia used the MerchantOS product, he said.
In addition to Wednesday’s acquisition announcement, LightSpeed also released a new product, which Laing called a “re-branding and re-styling of our product.”
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