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MYOB (company)

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MYOB limited
Company typePrivate company
IndustryInformation technology
PredecessorData-Tech Software
Founded1991; 34 years ago (1991)
HeadquartersCremorne, Victoria
Key people
Paul Robson (CEO)
ProductsAccounting software, ERP
ParentKKR
WebsiteMYOB.com

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]

History

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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]

Products

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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]

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

  • Teletax Systems Pty Ltd on 8 October 1997[47]
  • Bestware in 1996[48]

See also

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References

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  1. ^ "MYOB to take on big banks with small business transaction accounts". Australian Financial Review. 8 July 2025. Retrieved 23 July 2025.
  2. ^ Adams, David (9 July 2025). "MYOB launches sole trader bank accounts, debit cards in Solo app upgrade". SmartCompany. Retrieved 23 July 2025.
  3. ^ Wells, Andy (12 December 2024). "SOLO by MYOB - Low cost accounting for sole traders". Tech Daily with Andy Wells. Retrieved 23 July 2025.
  4. ^ "What is MYOB Used For and How It Works?". careerscollectiv.com. 18 March 2025. Retrieved 23 July 2025.
  5. ^ "MYOB Limited (ASX:MYO)" (PDF). Australian Exchange.
  6. ^ Brett, Lorna (22 August 2011). "Bain Capital acquires MYOB for undisclosed sum". Dynamic Business. Retrieved 23 July 2025.
  7. ^ "MYOB Limited privatised". Archived from the original on 6 July 2011.
  8. ^ "Bain Capital signs definitive agreement with Archer Capital to acquire MYOB Ltd".
  9. ^ "MYOB Group Limited listed on ASX". Archived from the original on 4 March 2016. Retrieved 17 May 2015.
  10. ^ "Reckon sells 'crown jewel' of the business to MYOB in $180 million deal". Australian Financial Review. 16 November 2017. Retrieved 17 November 2017.
  11. ^ "MYOB Group terminates $180m acquisition of Reckon business". Sydney Morning Herald. 31 May 2018.
  12. ^ "MYOB sells its rental business to Rent.com.au for $425,000". CRN Australia. Retrieved 31 May 2018.
  13. ^ "MYOB sells off its rental payments platform for $425,000". Retrieved 31 May 2018.
  14. ^ "Investors wave through MYOB takeover". Australian Financial Review. 17 April 2019. Retrieved 13 August 2019.
  15. ^ Adams, David (9 July 2025). "MYOB launches sole trader bank accounts, debit cards in Solo app upgrade". SmartCompany. Retrieved 23 July 2025.
  16. ^ "Choosing The Right MYOB Accounting Software For Your Business". Account Agility. Retrieved 23 July 2025.
  17. ^ "MYOB". www.saasworthy.com. 23 July 2025. Retrieved 23 July 2025.
  18. ^ "MYOB Acumatica History and Overview". Cloud Factory Solutions. Retrieved 23 July 2025.
  19. ^ Consulting, Kilimanjaro (15 July 2024). "MYOB Advanced vs MYOB Acumatica: What's the Difference?". Kilimanjaro Consulting. Retrieved 23 July 2025.
  20. ^ Rehman, Aziz Ur (13 June 2025). "MYOB Practice Login Guide | Manage Your Business with Perfect Accounting". Perfect Accounting and Tax Services. Retrieved 23 July 2025.
  21. ^ MYOB; Partner, Content (14 May 2025). "All-new Client Accounting in MYOB Practice Compliance". www.accountantsdaily.com.au. Retrieved 23 July 2025.
  22. ^ "MYOB acquires Flare, Australian SMEs to reap benefits". www.myob.com. Retrieved 16 April 2024.
  23. ^ "MYOB kicks off the year with acquisitions of Tall Emu, Nimbus Portal Solutions". CRN Australia. Retrieved 26 February 2024.
  24. ^ "ACCC gives MYOB the go-ahead to acquire GreatSoft". ZDNET. Retrieved 6 March 2024.
  25. ^ Palmer, Daniel (1 August 2016). "MYOB acquires Greentree in bid for growth". Delimiter. Retrieved 6 March 2024.
  26. ^ Reporter, Michael (1 June 2015). "MYOB announces payroll acquisition". www.accountantsdaily.com.au. Retrieved 30 May 2024.
  27. ^ "MYOB Inks Third Payroll Buyout". PYMNTS.com. 1 October 2015. Retrieved 30 May 2024.
  28. ^ "MYOB buys New Zealand's PayGlobal". ZDNET. Retrieved 6 March 2024.[dead link]
  29. ^ "News : AU Article :MYOB acquisition of BankLink now complete - Defining a new era of Client Account". Archived from the original on 5 February 2014. Retrieved 28 February 2014.
  30. ^ "MYOB buys SmartyHost for $7m". ZDNET. Retrieved 26 July 2024.
  31. ^ "UberGlobal buys Smartyhost, Ilisys". iTnews. Retrieved 26 July 2024.
  32. ^ "MYOB Buys Aussie Web Host Ilisys | Mar 2008 | WHTop.com". WHTop. 4 March 2008. Retrieved 3 October 2024.
  33. ^ "MYOB Invests In Exonet New Zealand | Mergr M&A Deal Summary". mergr.com. Retrieved 23 July 2025.
  34. ^ "MYOB buys Comacc to extend services". NZ Herald. Retrieved 23 July 2025.
  35. ^ "MYOB Annual_Report 2006" (PDF). annualreports.
  36. ^ 2006_Half_Year_Financial_Statements, pdf document.
  37. ^ AccountingWEB (25 December 2005). "MYOB acquires Solution 6 in A$233m deal". AccountingWEB. Retrieved 23 July 2025.
  38. ^ "$4.3m deal for NZ software - Technology News". NZ Herald. Retrieved 23 July 2025.
  39. ^ "Chief Operating Officer Appointed/Acq. of Rorquals completed". www.asx.com.au. Retrieved 23 July 2025.
  40. ^ Mallory, James (19 October 2016). "e2b teknologies - MYOB | Essentials Accounting". e2b teknologies. Retrieved 23 July 2025.
  41. ^ "MYOB mends business". Australian Financial Review. 3 April 2003. Retrieved 23 July 2025.
  42. ^ "Acquisition increases MYOB's customer base in NZ". NZ Herald. Retrieved 23 July 2025.
  43. ^ "Acquisition of Digi -Till". www.asx.com.au. Retrieved 23 July 2025.
  44. ^ Writer, CBR Staff (28 September 1999). "MYOB Acquires New Zealand's CA-Systems". Tech Monitor. Retrieved 23 July 2025.
  45. ^ "ACCC approves Xlon and Solution 6 transaction". 1 April 2001. Archived from the original on 1 April 2001.
  46. ^ "Solution 6 Europe - Welcome - News Room - A news story". 17 March 2002. Archived from the original on 17 March 2002.
  47. ^ "Teletax Purchase Media Release". 28 September 2000. Archived from the original on 28 September 2000.
  48. ^ "Company Background and History". 26 May 1997. Archived from the original on 26 May 1997.
[edit]
Library resources about
MYOB Australia
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