We’re delighted to share that today, Xero announced it is acquiring Syft. Many of our customers will be familiar with Xero - the global cloud accounting platform for small businesses and their accountants and bookkeepers.

For our customers, nothing changes today and you will continue to have access to our software and support. Following the acquisition, Xero plans that Syft will continue to be available as a standalone offering to small businesses and their accountants and bookkeepers — no matter who your accounting software provider is. Xero will work to embed Syft's functionality within Xero over time, to provide powerful visualisations, analytics and reporting capabilities for new and existing customers.

Our mission has always been to help small businesses unlock the power of their financial data by providing them with the insights they need to grow and succeed. Joining Xero will help us expand our global reach and accelerate our growth in getting these insights into the hands of more small businesses and their advisors.

Syft CEO, Vangelis Kyriazis, said: “We’ve worked closely with Xero’s teams and customers over the past seven years. Having met Xero’s senior leadership team over the past few months, we knew that joining Xero was a natural fit and would advance our shared goal of helping small businesses succeed.”

You can read more on Xero’s blog.