Society Insider: Former MP Stuart Nash smooths Golden Visas for wealthy; Is Xero founder Rod Drury the king of Queenstown?; Lux weddings for Sophie Heatly and Murray Crane
Man about town Ricardo Simich brings you Society Insider. This week, former MP Stuart Nash on his business that offers a high-end relocation service for wealthy individuals; Xero founder Rod Drury is heavily investing in Queenstown; Rich List daughter Sophie Heatley marries in Hawaii.
Stuart
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
NZ Herald
5 days ago
- NZ Herald
Society Insider: Former MP Stuart Nash smooths Golden Visas for wealthy; Is Xero founder Rod Drury the king of Queenstown?; Lux weddings for Sophie Heatly and Murray Crane
Man about town Ricardo Simich brings you Society Insider. This week, former MP Stuart Nash on his business that offers a high-end relocation service for wealthy individuals; Xero founder Rod Drury is heavily investing in Queenstown; Rich List daughter Sophie Heatley marries in Hawaii. Stuart
RNZ News
5 days ago
- RNZ News
Kiwi software company Xero to buy US payments platform for $4.1b
Xero says the new deal would be a significant change for the company. File photo. Photo: RNZ Accounting software giant Xero - based in Wellington but listed in Australia - is to buy an American payments platform operator Melio for US$2.5 billion (NZ$4.1b), as it looks to expand earnings in the United States. The deal will combine Xero's accounting software with Melio's payments platform in the key small and medium business market. Xero chief executive Sukhinder Singh Cassidy said the deal would be a significant change for the company. "Xero and Melio are highly complementary - together they complete the key jobs to be done for US SMBs (small medium businesses), extend reach across customer segments, provide both direct and syndicated offerings, and deliver multiple revenue drivers." She said the deal would double Xero's 2025 financial sales by 2028. The company earns the bulk of its earnings through sales in Australia and New Zealand, but has been challenged in trying to grow its US earnings. The acquisition is being funded by a sale of 10.5m new shares to big investors at A$176 each, a 9 percent discount to Xero's last traded price. That will raise about half of the purchase price, while existing Xero shareholders will be offered a total of A$200m worth of shares at a discounted price. Xero is also issuing shares to current Melio shareholders, as well as using some cash reserves, to be supplemented by some borrowing. Xero was the flag bearer for New Zealand's technology sector when it listed on the NZX in 2007, but switched to a single listing on the Australian stock exchange in 2018 , although it has maintained its nominal head office Wellington. It shed hundreds of jobs in a restructuring in 2023. - RNZ
NZ Herald
5 days ago
- NZ Herald
Xero to acquire US payments platform Melio in $4.1b deal
Wellington-based Xero plans to buy Melio, a leading US business-to-business bill paying platform, in a cash and share deal worth US$2.5 billion ($4.1b). Melio integrates accounting and payments, offering US SMBs (small to medium sized businesses) and their advisers easy-to-use accounts payable workflows and a wide choice of payment methods,
