A person counts U.S. one-hundred dollar bills at a currency exchange office, in Santiago, Chile April 4, 2025. REUTERS/Pablo Sanhueza
(Reuters) -New Zealand accounting software giant Xero agreed to buy New York payments provider Melio for $2.5 billion, the companies said on Wednesday, accelerating the Kiwi firm's push into the U.S. with the country's biggest outbound deal in over a decade.
The deal fills a gap in Xero's offer by adding payments to its accounting software while enabling both parties to scale up. Australia-listed, New Zealand-headquartered Xero dominates its home markets but has been trying to grow in the U.S. where it says it makes about 7% of sales.
