Xero splashes $4.1b for 'step-change' US acquisition

Xero CEO Sukhinder Cassidy Singh. (Image: Getty)

Wed, 25 Jun 2025

Accounting software firm Xero is seeking a step-change in its US market penetration, paying US$2.5 billion (NZ$4.16b) to acquire Melio, a similar business with a strong US market presence.“This acquisition solves a critical customer need, uniting accounting and payments in one platform for customers,” Xero said in a statement. “It’s a powerful strategic fit” and would “drive compelling value creation for the US business and group globally”.The New Zealand-founded, Australian Securities Exchange-listed (...

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