New Zealand accounting software giant Xero agreed to buy U.S.-Israeli payments provider Melio for as much as $3 billion, the ...

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.

Xero said the acquisition of Melio will accelerate its global aspirations and solve a critical customer need in the U.S. by uniting accounting and payments in one platform for customers.

Melio, founded in 2018 and headquartered in New York with offices in Tel Aviv, Israel, serves over 80,000 US SMBs and accounting firms.

Xero CEO Sukhinder Singh Cassidy added: "We're excited to welcome Melio's world-class team to Xero and look forward to working together to deliver on our shared goals once the transaction completes.

The ASX-listed accounting software giant says it will buy Melio Payments to expand quickly in America, where its efforts to grow have stalled.

Nothing changes in Melio's product. Meanwhile, in parallel, Xero will embed Melio's features into Xero's core platform. As part of Xero's commitment to an open ecosystem, the company will also ...

New Zealand cloud-based accounting software company Xero Limited (ASX: XRO) has announced that it has entered into a binding ...

SYDNEY—Accounting-software provider Xero XRO-1.79 % decrease; red down pointing triangle will acquire bill-pay platform Melio for an initial US$2.5 billion in a deal that Xero said significantly ...