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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 statementBloomberg Terminal on Wednesday, confirming an earlier report by Bloomberg News.