Xero to acquire US-based SMB bill pay platform for $3.2b

Melio integrates accounting and payments.

Xero Limited has entered into a binding agreement to acquire United States-based SMB bill pay platform Melio Limited and its associated entities for $3.2b (US$2.5b).

Melio integrates accounting and payments, offering easy-to-use accounts payable workflows and a wide choice of payment methods.

An additional contingent consideration, deferrals and rollovers, is payable to Melio employees of up to $640m (US$500m).

The majority is linked to delivering against certain pre-agreed outperformance targets, and the remainder is subject to the passage of time, annual business objectives, and continued employment.

($1=US$0.78)

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