MYOB (meaning ''mind your own business'') is an

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that provides

tax A tax is a mandatory financial charge or levy imposed on an individual or legal entity by a governmental organization to support government spending and public expenditures collectively or to regulate and reduce negative externalities. Tax co ...

accounting Accounting, also known as accountancy, is the process of recording and processing information about economic entity, economic entities, such as businesses and corporations. Accounting measures the results of an organization's economic activit ...

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 Australian Securities Exchange Ltd (ASX) is an Australian public company that operates Australia's primary Exchange (organized market), securities exchange, the Australian Securities Exchange (sometimes referred to outside of Australia as, or c ...

(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 Mac is a brand of personal computers designed and marketed by Apple Inc., Apple since 1984. The name is short for Macintosh (its official name until 1999), a reference to the McIntosh (apple), McIntosh apple. The current product lineup inclu ...

(and PC) development team from MYOB Limited of Australia. Acclivity now drives global development of MYOB's

Mac OS Mac operating systems were developed by Apple Inc. in a succession of two major series. In 1984, Apple debuted the operating system that is now known as the classic Mac OS with its release of the original Macintosh System Software. The system ...

business management products – AccountEdge Basic, AccountEdge Pro and AccountEdge Pro Network Edition. In January 2009, a

private equity Private equity (PE) is stock in a private company that does not offer stock to the general public; instead it is offered to specialized investment funds and limited partnerships that take an active role in the management and structuring of the co ...

consortium led by

Archer Capital Archer Capital is an Australian private equity investment firm based in Sydney. It was founded as GS Private Equity in 1996. Archer Capital hosts multiple investment funds which invest in businesses across a wide array of industries and sectors ...

completed a takeover bid for MYOB, returning MYOB to private ownership. In August 2011, Archer Capital sold MYOB to

Bain Capital Bain Capital, LP is an American Investment company, private investment firm based in Boston, Massachusetts, Boston, Massachusetts, with around $185 billion of assets under management. It specializes in private equity, venture capital, credit, p ...

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

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 Network 10 (commonly known as the 10 Network, Channel 10 or simply 10) is an Australian commercial television network. It is a wholly-owned subsidiary of Paramount Global's UK & Australia division and is one of the five national free-to-a ...

'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

References

External links

Official website
{{DEFAULTSORT:Myob Financial software companies Point of sale companies Online financial services companies of Australia Australian brands Companies formerly listed on the Australian Securities Exchange Companies based in Melbourne Accounting software Business services companies Data companies Business software companies Business software Multinational companies Cloud applications Business intelligence companies Business intelligence software Kohlberg Kravis Roberts companies Bain Capital companies

History

Products

Mergers and acquisitions

See also

References

External links