Xero Limited (ASX:XRO) agreed to acquire Syft Analytics for $70 million on September 17, 2024. Total consideration for the purchase will be up to $70 million, comprising an upfront payment of $40 million including approximately $10 million in Xero shares and the balance in earnouts and employee RSUs over three years. The transaction is subject to satisfaction of customary closing conditions, including necessary approvals.

Completion of this transaction including transaction, integration and operating costs are expected to have minimal impact on Xero?s financial metrics in FY25. The expected completion of the transaction is third quarter of 2025. Syft is an existing, top Xero app partner in the Xero App Store.

Xero plans that Syft will continue to be available as a standalone offering post-acquisition.