Xero to Pay Up to EUR183.5 Million for Workforce Platform Planday
04 3월 2021 - 7:23AM
Dow Jones News
By Stuart Condie
SYDNEY--Xero Ltd. agreed to acquire Copenhagen-based workforce
management platform Planday in a cash-and-shares deal the cloud
accounting software firm said will help customers control labor
costs.
The Australia-listed firm on Thursday said it would pay up to
183.5 million euros (US$221.9 million) for Planday, comprising an
initial EUR155.7 million and an earn-out of up to EUR27.8 million
based on development and revenue milestones.
Xero said about 45% of the up-front consideration will be in
Xero shares and 55% in cash. Up to 50% of the earn-out payment
would be settled in shares.
It said the transaction is expected to be completed in the first
quarter of its 2022 fiscal year, which starts April 1, 2021.
The acquisition is expected to contribute approximately three
percentage points of additional operating revenue growth in fiscal
2022, although the transaction, integration and operating costs are
anticipated to have a modest negative Ebitda impact, it said.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
March 03, 2021 17:08 ET (22:08 GMT)
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