New Zealand’s Xero to buy US fintech Melio for $2.5 billion

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New Zealand accounting software giant Xero agreed to buy New York payments provider Melio for $2.5 billion, the companies said on Wednesday, accelerating the Kiwi firm’s push in the U.S. market with one of the country’s biggest outbound deals.

The deal fills a gap in Xero’s offer by adding payments to its accounting software while enabling both parties to scale up. Australia-listed, New Zealand-headquartered Xero dominates its home markets but has been trying to grow in the U.S. where it says it makes about 7% of sales.

The deal “enables a step…



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New Zealand’s Xero to buy US fintech Melio for $2.5 billion


New Zealand accounting software giant Xero agreed to buy New York payments provider Melio for $2.5 billion, the companies said on Wednesday, accelerating the Kiwi firm’s push in the U.S. market with one of the country’s biggest outbound deals.

The deal fills a gap in Xero’s offer by adding payments to its accounting software while enabling both parties to scale up. Australia-listed, New Zealand-headquartered Xero dominates its home markets but has been trying to grow in the U.S. where it says it makes about 7% of sales.

The deal “enables a step…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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