Xero Limited is acquiring Planday, a workforce management platform that simplifies employee scheduling, allowing businesses to forecast and manage their labour costs.

The total potential consideration for the acquisition of Planday is 183.5 million euros ($294.1 million), comprising an upfront payment of 155.7 million euros and a subsequent earnout payment of up to 27.8 million euros based on product development and revenue milestones.

Approximately 45% of the upfront consideration will be payable in shares in Xero Limited and 55% will be settled in cash, while up to 50% of the earnout payment will be settled in Xero Limited shares with the remainder being paid in cash.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook