A cross practice team from Fieldfisher's Manchester office has advised Xero on its strategic acquisition of UK software company Instafile
Building on our strengths in the Technology M & A sector, this deal is a great example of us advising global software and technology companies on their UK acquisitions and our corporate and technology departments working together seamlessly on a client deal.
Our team was led by partner Tom Ward, supported by solicitor Rachel Leigh, as well as solicitor Annabelle Gold Caution and senior associate Liam Corrigan from our technology team. London Tax & Structuring Of Counsel Andrew Loan also supported the project.
Xero is a New Zealand domiciled and ASX listed software company that offers a cloud-based accounting software platform for small businesses and their advisors. It announced its interim results last week for the six months to 30 September 2018, which saw operating revenues for the six month period increase 37% to $256.5 million and annualised monthly recurring revenue rise 40% to $589 million. The company has a worldwide presence with offices in New Zealand, Australia, the United Kingdom, the United States, Canada, Asia and South Africa.
Instafile is a cloud-based accounts preparation and tax filing solution that connects UK accountants, bookkeepers and small businesses to UK compliance bodies (including HMRC).