Xero says its newly acquired online payroll company will give it 100 percent coverage of the critical United States market, two or three times faster than it would have been able to do on its own.
The accounting software company has bought Seattle-based Monchilla for a mix or cash and shares worth about $US8 million.
Xero chief executive Rod Drury said Monchilla had already been working with Xero for about a year
Xero's latest milestone in trying to make itself indispensible to small business clients is a partnership with Z Energy, where invoice data is transferred automatically. Audio
Accountancy software company Xero is not likely to succeed in the United States, and many predict slower growth there than previously forecast, an analyst says. Audio
Shares in Xero fell more than 7 percent in morning trading after plunging more than 11 percent last week. The fall follows disappointing US sales figures.
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