Xero Ltd. (ASX: XRO) said it is acquiring San Juan Capistrano-based Locate Inventory, a cloud-based inventory management provider, for $19 million.
New Zealand-based Xero said the acquisition will enhance its inventory and ecommerce capability.
The purchase is expected to be completed in the coming days, according to an announcement today.
“We selected Locate as it has some of the most comprehensive inventory-accounting workflows in the U.S. market,” Xero CEO Steve Vamos said in a statement.
