Xero spends $800K in cash, scrip on Wgtn software firm

Fri, 20 Jul 2012

July 20 (BusinessDesk) - Xero, the cloud-based accounting software company, has bought Wellington-based developer Spotligtht Workpapers for $800,000 in cash and scrip. Xero will continue to build functionality and scalability of Spotlight, keeping past-owners Richard and Julie Francis on to help development and operation, it said in a statement late on Friday. The acquisition comes after a $6 million cash and scrip deal to buy-out Auckland-based firm Max Solutions earlier this year. "These acquisitions further strengthen Xero’s hand in the...

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