• About
  • Advertise
  • Careers
  • Contact Us
Friday, June 27, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home Business StartUPs

Xero Expands Global Analytics Services with $70M Acquisition of SA’s Syft Analytics

by Joan Aimuengheuwa
September 17, 2024
in StartUPs
0
Xero Expands Global Analytics Services with $70M Acquisition of SA’s Syft Analytics
Xero acquires Syft Analytics

Xero acquires Syft Analytics

UBA
Advertisements

Xero Limited, a global accounting software company, is expanding its reach by acquiring South African cloud-based platform, Syft Analytics. 

This acquisition aims to enhance Xero’s reporting, insights, and analytics offerings across key markets such as Australia, the UK, and the US.

Syft Analytics, based in Johannesburg, provides cloud-based reporting tools utilised by accountants and small businesses in over 80 countries. Xero intends to gradually integrate Syft’s software into its own platform, offering its customers deeper analytics and financial forecasting. 

Syft’s tools allow users to efficiently review, analyse, and predict financial outcomes, a valuable function in both stable and challenging economic conditions. 

Xero’s acquisition aims to strengthen its offerings, particularly benefiting its small business and accounting clientele.

The deal, valued at up to $70 million, includes an upfront payment of $40 million, with an additional $30 million linked to employee incentives and other conditions over a three-year period. 

Most of Syft’s 70-strong workforce, based in South Africa, will join Xero following the acquisition. Despite the scale of the transaction, Xero anticipates minimal impact on its financial performance in the near term, specifically in the fiscal year 2025.

Sukhinder Singh Cassidy, CEO of Xero, stressed the importance of the acquisition in fulfilling the company’s strategy to provide more comprehensive solutions for small businesses and their advisers. In adding the functionality of Syft Analytics, Xero aims to offer more detailed insights and advanced reporting, helping users make more informed business decisions. 

Cassidy further noted that this acquisition aligns with Xero’s goal of strengthening its accounting solutions, one of the firm’s core strategic priorities.

Syft will continue operating independently as part of Xero’s app ecosystem, allowing current customers to benefit from its advanced analytics and benchmarking capabilities while ensuring new customers will eventually experience an integrated solution. Completion of the acquisition is expected in late 2024, subject to the necessary regulatory approvals.

This acquisition follows recent deals of large multinational companies acquiring innovative South African technology startups, with Syft being a good example of a SaaS company attracting international interest.

Loading

Advertisements
MTN ADS

0Shares
Tags: AnalyticsSukhinder Singh CassidySyft AnalyticsXeroXero acquires Syft Analytics
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

Next Post
Regfyl Raises $1.1 Million to Expand Unified Compliance Platform Across Africa

Regfyl Raises $1.1 Million to Expand Unified Compliance Platform Across Africa

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

ARM Labs Lagos Techstars Accelerator Appoints Oyin Solebo as Managing Director

ARM Labs Lagos Techstars Accelerator Appoints Oyin Solebo as Managing Director

3 years ago
Online Marketing Training - LOMT 2021

Leverage Online Marketing Training Event Helps Businesses Scale Up

4 years ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.