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.
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.
