Deals
New Zealand’s Xero to Buy Melio Payments in $2.5 Billion Deal
Takeaways by Bloomberg AI
Xero Ltd., a cloud-based accounting software firm, agreed to buy Melio Payments Inc. for $2.5 billion as the New Zealand company pushes deeper into the US market with its biggest-ever acquisition.
The cash-and-stock deal for Melio includes as much as $500 million in additional performance and other payments over three years, according to a statement on Wednesday, confirming an earlier report by Bloomberg News.