Planday

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Accounting software provider Xero has made its largest acquisition to date, after striking a deal with Denmark-based workforce management platform Planday.

The cloud accounting software maker is acquiring a provider of workday management and employee-scheduling software, for up to €183.5 million ($219.7 million).

Aligned with Xero's strategic priority to grow the small business platform, the acquisition of Planday will help more small businesses save time, save money, deal with increasing compliance requirements, support more flexible forms of work, and look ...

ASX-listed cloud accounting giant Xero is setting its sights beyond small business bookkeepers as it forks out $285 million for workforce management platform Planday.

The cloud accounting software giant has acquired European workforce management platform Planday in a deal worth $284.8 million.

Xero's $285 million acquisition of a Danish rostering platform is about making its ecosystem for SMEs even stickier.

Under the deal, valued at €183.5 million, Xero will pay €155.7 million upfront and the remainder will be paid based on earnout payments based on product development and revenue milestones.