New Zealand ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/accounting-software” target=”_blank”>accounting software giant Xero agreed to buy New York payments provider ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/melio” target=”_blank”>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…
