Xero eyes acquisitions with US$300M convertible note offer

Wed, 26 Sep 2018

By Paul McBeth Sept. 27 (BusinessDesk) - Xero is on the hunt for new acquisitions and plans to raise US$300 million through an issue of convertible notes it will list in Singapore. The software developer expects to break even on a cashflow basis in the March 2019 year excluding merger and acquisition activity, with any surplus ploughed back into the business. Xero has already started putting its feelers out for potential acquisitions, buying Canada's Hubdoc in August for up to US$70 million and yesterday said it planned to build a war ch...

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