Infrastructure

Xero buys Canadian tax preparer for up to C$75m

Jenny Ruth
Thu, 23 Dec 2021

Xero buys Canadian tax preparer for up to C$75m
CEO Steve Vamos said the purchase will extend Xero's Canadian presence. (Image: Getty)
Jenny Ruth
Thu, 23 Dec 2021
Accounting software firm Xero will pay up to C$75 million (NZ$85.5m) for Canada-based tax preparation software company TaxCycle, helping to boost its presence in what has been a fledgling market for Xero.TaxCycle provides software for accountants and bookkeepers and Xero's marketing strategy is to access its small business customers through their accountants and bookkeepers.TaxCycle is based in Calgary and was founded by Canadian Cameron Peters.It has almost 4,000 tax firms and more than 16,000 individual accountants, bookkeepers and tax pr...

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