CORRECTION US investors pour $82M into Xero; interim payday for founders

Fri, 30 Nov 2012

(Corrects sums received by directors in sell-down in second paragraph) By Pattrick Smellie Nov. 30 (BusinessDesk) - Two American investors have increased their interest in cloud accounting software provider Xero by a total of $82 million, of which $60 million is newly issued capital and $22 million is to purchase of shares from its three largest shareholders. The $22 million is split three ways between director Craig Winkler, chief executive Rod Drury, and co-founder Hamish Edwards, who will receive around $15 million, $5 million, and $2 mil...

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