(Corrects dateline to June 25 from June 24 with no changes to text)
(Reuters) -Australia-listed Xero said on Wednesday it would buy U.S.-headquartered fintech firm Melio for an upfront consideration of $2.5 billion.
The cash-and-stock deal would also see Melio receiving up to $500 million as part of deferrals and rollovers, laid out over the next three years.
The acquisition would allow Wellington-headquarted Xero to integrate accounting and payment solutions on a single platform.
Melio, which has offices in New York and Tel Aviv, provides digital bill payment solution for small business.
The deal would be funded through a placement of $1.2 billion, a $400 million unsecured credit facility, among others.
(Reporting by Rajasik Mukherjee in Bengaluru; Editing by Maju Samuel)
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