- Source: MYOB (company)
MYOB (meaning mind your own business) is an Australian multinational corporation that provides tax, accounting and other business services software to small and medium businesses. It is owned by KKR.
History
MYOB was founded in the early 1980s by a team of developers at Teleware, who developed accounting software. Teleware was purchased by Best Software (now part of Sage) in 1993. Data-Tech Software was the Australian republisher of the MYOB products and, in 1997 entered into an agreement with Best Software to buy the company (renamed MYOB Inc.) and bought the intellectual property rights to the software. In 1999, Data-Tech changed its name to MYOB Limited and listed on the Australian Securities Exchange (ASX). In subsequent corporate development, MYOB Limited merged with Solution 6 Holdings in 2004. Though the company was founded in the United States, it ceased operations outside of Australia and New Zealand in 2008.
Co-founder Brad Shofer left the company in 2003.
In December 2008, Acclivity announced it acquired MYOB US Inc. and its Macintosh (and PC) development team from MYOB Limited of Australia. Acclivity now drives global development of MYOB's Mac OS business management products – AccountEdge Basic, AccountEdge Pro and AccountEdge Pro Network Edition.
In January 2009, a private equity consortium led by Archer Capital completed a takeover bid for MYOB, returning MYOB to private ownership.
In August 2011, Archer Capital sold MYOB to Bain Capital for an undisclosed amount. The acquisition gave Bain Capital a majority stake in MYOB alongside management continued to be shareholders in the company.
MYOB Group Limited was readmitted to the official list of the Australian Securities Exchange in May 2015.
In November 2017, MYOB proposed to buy Reckon's accounting group for $180 million. However, failure to obtain regulatory permission caused the deal to fall apart in May 2018.
In April 2018, MYOB sold its rental payment system RentPay to Rent.com.au for $425,000. In May 2018, MYOB partnered with Network 10's Shark Tank.
MYOB Group Limited was delisted from the ASX in May 2019, after it sold to private equity firm KKR.
Products
MYOB has a suite of subscription-based products and a browser-based accounting product that was released in August 2010. On 24 October 2012, MYOB released AccountRight Live, an update to its flagship product – a Microsoft-Windows–only software suite which has online storage of data.
Mergers and acquisitions
Flare HR Pty Ltd 2022
Tall Emu CRM 2022
Nimbus 2022
GreatSoft Australia 2021
Butn Limited 2021
Greentree on 1 August 2016
Ace Payroll on 1 June 2015
IMS Payroll in 2015
PayGlobal in 2014
BankLink 4 June 2013
Acquired by Bain Capital in Sept 2011
Smartyhost on 20 August 2008 – divested 5 August 2013
ilisys on 28 February 2008 – divested 5 August 2013
Exonet on 5 January 2007 - Tim Molloy, Bruce Carr and Sam Lewis-Roberts
Comacc Limited on 1 August 2006
Macquarie Outsource Pty Ltd and Macquarie Outsource Sdn Bhd on 30 March 2006
Conto Ltd and JumpStart Computer Accounting and Trainers Ltd on 31 January 2006
Solution 6 Holdings on 29 March 2004
NZA Gold Limited on 5 March 2003
Rorquals Business Solutions Limited on 23 November 2000
SeaSoft Computer Services Sdn Bhd on 9 October 2000
Professional Tools (NZ) Ltd on 30 November 1999
Blue Tongue Technology Pty Ltd on 11 October 1999
CA Systems on 27 September 1999
Acquisitions by Solution 6 before the merger with MYOB
Xlon Pty Ltd and parent company Ceedata Holdings on 8 December 2000
VIZTOPIA Software Limited and parent company MICL Holdings Limited on 19 September 2000
Acquisitions by Data-Tech Software Pty Ltd before changing the name to MYOB
Teletax Systems Pty Ltd on 8 October 1997
Bestware in 1996
See also
Comparison of accounting software
References
External links
Official website
Kata Kunci Pencarian:
- Blackmores
- JB Hi-Fi
- Lauren Graham
- MYOB (company)
- MYOB
- M.Y.O.B. (TV series)
- Kounta (software company)
- Xero (company)
- M.Y.O.B. (album)
- Buildkite
- Acumatica
- BankLink
- Reckon (company)
