Montreal-based software company Lightspeed’s plan to go public on the Toronto Stock Exchange is being hailed a success story for Montreal’s tech industry.

On Wednesday, the company, which makes cloud-based payments software aimed at small and medium-sized businesses, filed a prospectus with securities regulators — a major step in the initial public offering process.

It would be the first notable IPO by a Montreal technology company since Stingray Digital, now Stingray Group, went public in 2015.

“It’s really one of the great high tech success stories in Montreal,” said Karl Moore, a professor at McGill University’s Desautels Faculty of Management.

Read the full story at montrealgazette.com.