Xero to acquire venture-backed Hubdoc in $91 mln deal
New Zealand accounting software company Xero has agreed to acquire Hubdoc, a Toronto-based data capture solution that helps accountants, bookkeepers and small businesses streamline administrative tasks. The cash-and-stock deal is valued at about $91 million (US$70 million). Hubdoc, founded in 2011 by co-CEOs Jamie McDonald and Jamie Shulman, serves customers in North America, the United Kingdom and Australia. It will continue to operate on a standalone basis, led by existing managers. Hubdoc last year raised about $6.4 million in a seed-stage financing led by BDC Capital and Round13 Capital and joined by Hyde Park Venture Partners and other investors.
1 August 2018•4 mins read
