ABGSC acted as exclusive financial advisor to Xero in connection with its acquisition of Planday for a total consideration of up to EUR 183.5 million

Xero Limited, listed on the Australian Securities Exchange with a market capitalisation of EUR +11 billion, has announced the acquisition of Planday, a leading workforce management platform for a total consideration of EUR 183.5 million including earnout payment.
Planday, headquartered in Denmark, is a leading workforce management platform with more than 350,000 employee users across Europe that simplifies employee scheduling, allowing businesses to forecast and manage their labour costs. Following the acquisition, Planday will expand its presence into other markets where Xero operates, supporting Xero’s long-term growth plans.
Xero CEO Steve Vamos commented: “The acquisition of Planday aligns with our purpose to make life better for people in small businesses and their advisors. Planday’s workforce management platform helps small businesses to respond to the rapidly changing nature of work. Planday also addresses the growing need for flexibility and rising compliance demands within the workplace.”
With an upfront payment of EUR 155.7 million and a subsequent earnout payment of up to EUR 27.8 million based on product development and revenue milestones, the total potential consideration for the acquisition of Planday is EUR 183.5 million. Approximately 45% of the upfront consideration will be payable in shares in Xero Limited and 55% will be settled in cash. Up to 50% of the earnout payment will be settled in Xero Limited shares with the remainder being paid in cash.