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Xero Limited ( (AU:XRO) ) just unveiled an update.
Xero Limited has announced its acquisition of Melio, a leading US SMB bill pay platform, for $2.5 billion. This strategic move aligns with Xero’s 3×3 strategy, aiming to enhance its US market proposition and accelerate global growth. The acquisition is expected to significantly boost Xero’s revenue growth in the US by integrating Melio’s payment solutions with Xero’s accounting capabilities, offering a comprehensive platform for SMBs. The transaction is funded through a mix of cash, equity, and credit facilities, and is anticipated to maintain Xero’s financial stability while facilitating future growth.
The most recent analyst rating on (AU:XRO) stock is a Buy with a A$170.00 price target. To see the full list of analyst forecasts on Xero Limited stock, see the AU:XRO Stock Forecast page.
More about Xero Limited
Xero Limited is a company operating in the accounting software industry, providing cloud-based accounting solutions primarily for small and medium-sized businesses (SMBs). The company focuses on integrating accounting and payment solutions to streamline financial operations for its customers, with a significant market presence in the US, UK, and Australia.
Average Trading Volume: 437,154
Technical Sentiment Signal: Buy
Current Market Cap: A$29.86B
See more insights into XRO stock on TipRanks’ Stock Analysis page.