Hubdoc

Hubdoc in its acquisition by Xero

Client

Hubdoc Inc.

Value

US$70 million

Service

Mergers and Acquisitions

Date Closed

Industry

FinTech

Lead Office

Toronto


On July 31, 2018, Xero announced that it will acquire Hubdoc Inc., (“Hubdoc”) for US$70 million in a combination of cash and equity.

The acquisition will continue to have Hubdoc operating independently, while allowing both companies to focus on co-marketing and bundling opportunities.

Hubdoc is a Toronto-based start up company that automatically collects financial data from over 700 services, including telecom providers, utilities, banks and online providers.

Xero is a New Zealand-based online accounting firm with more than 1.4 million subscribers across 180 countries. This is the largest acquisition undertaken by Xero.

Osler, Hoskin and Harcourt LLP represented Hubdoc with a team consisting of Chad Bayne, David Jamieson, Simon Leith, Andrew Irwin, Alana McElhinney, Horatiu Porime (M&A), Allison Di Cesare (Employment & Labour), and Colena Der and Corinne Grigoriu (Tax).


Team
Chad Bayne
Key Contact

Chad Bayne

Partner, Emerging and High Growth Companies

Colena Der

Colena Der

Partner, Taxation

David Jamieson

David Jamieson

Associate, Emerging and High Growth Companies

Andrew Irwin

Andrew Irwin

Associate, Emerging and High Growth Companies

Alana McElhinney

Alana McElhinney

Associate, Emerging and High Growth Companies

M. Horatiu Porime

M. Horatiu Porime

Associate, Emerging and High Growth Companies