Xero buys Canadian booking software firm Hubdoc for up to US$70M

Wed, 01 Aug 2018

By Paul McBeth Aug. 1 (BusinessDesk) - Xero has bought Canadian booking software firm Hubdoc for up to US$70 million in cash and shares, continuing its shift away from keeping development in-house. The Wellington-based accounting software maker will pay US$21 million in cash and US$39 million in Xero shares, with a further US$10 million of scrip up for grabs if certain targets are met in 18 months, it said in a statement to the ASX. The shares rose 4.4 percent to A$44.66, valuing Xero at A$6.2 billion. The cash component will be paid...

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