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MYOB (company)
Australian accountancy company From Wikipedia, the free encyclopedia
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MYOB (originally abbreviated from mind your own business) is an Australian technology company that provides cloud-based business management solutions to sole operators through to mid-sized businesses in Australia and New Zealand.[1][2] The head office is in Melbourne, Australia, with offices across Australia and New Zealand. It is owned by KKR.[3]
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History
MYOB was founded in the early 1980s by a team of developers at Teleware.[4]
Data-Tech Software, the Australian republisher of MYOB products, first used the MYOB trade mark on or around 1991, acquiring the worldwide rights to the MYOB software in 1996. In 1999, Data-Tech changed its name to MYOB Limited and listed on the Australian Securities Exchange (ASX).[5]
In January 2009, a private equity consortium led by Archer Capital completed a takeover bid, returning MYOB to private ownership. In August 2011, Archer Capital sold MYOB to Bain Capital.[6][7][8]
MYOB Group Limited was re-listed on the Australian Securities Exchange in May 2015.[9]
In November 2017, MYOB proposed to buy Reckon's accounting group for $180 million.[10] However, failure to obtain regulatory permission caused the deal to fall apart in May 2018.[11]
In April 2018, MYOB sold its rental payment system RentPay to Rent.com.au for $425,000.[12][13]
MYOB Group Limited was delisted from the ASX in May 2019, after it sold to private equity firm KKR.[14]
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Products
MYOB offers subscription-based business management software with features such as accounting, invoicing, payroll, inventory management and enterprise resource planning (ERP). Its product range includes:
- Solo by MYOB, a product for sole operators, launched in Australia in December 2024.[15]
- MYOB Business Payroll Only, Lite and Pro, and MYOB AccountRight Plus and Premier for small businesses.[16][17]
- MYOB Acumatica, a cloud-based ERP solution for medium and large businesses.[18][19]
- MYOB Practice Management and MYOB Practice Compliance, used by accountants and bookkeepers.[20][21]
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Mergers and acquisitions
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- Flare HR Pty Ltd 2022[22]
- Nimbus 2022[23]
- GreatSoft Australia 2021[24]
- Greentree on 1 August 2016[25]
- Ace Payroll on 1 June 2015[26]
- IMS Payroll in 2015[27]
- PayGlobal in 2014[28]
- BankLink 4 June 2013[29]
- Smartyhost on 20 August 2008[30] – divested 5 August 2013[31]
- ilisys on 28 February 2008[32] – divested 5 August 2013
- Exonet on 5 January 2007[33]
- Comacc Limited on 1 August 2006[34]
- Macquarie Outsource Pty Ltd and Macquarie Outsource Sdn Bhd on 30 March 2006[35]
- Conto Ltd and JumpStart Computer Accounting and Trainers Ltd on 31 January 2006[36]
- Solution 6 Holdings on 29 March 2004[37]
- NZA Gold Limited on 5 March 2003[38]
- Rorquals Business Solutions Limited on 23 November 2000[39]
- SeaSoft Computer Services Sdn Bhd on 9 October 2000[40]
- Professional Tools (NZ) Ltd on 30 November 1999[41][42]
- Blue Tongue Technology Pty Ltd on 11 October 1999[43]
- CA Systems on 27 September 1999[44]
Acquisitions by Solution 6 before the merger with MYOB
- Xlon Pty Ltd and parent company Ceedata Holdings on 8 December 2000[45]
- VIZTOPIA Software Limited and parent company MICL Holdings Limited on 19 September 2000[46]
Acquisitions by Data-Tech Software Pty Ltd before changing the name to MYOB
See also
References
External links
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