Menu
MYOB acquires Kiwi ERP software vendor in $NZ28.5 million deal

MYOB acquires Kiwi ERP software vendor in $NZ28.5 million deal

Adds to MYOB's enterprise business

Tim Reed - CEO, MYOB

Tim Reed - CEO, MYOB

ASX-listed MYOB (ASX:MYO) has acquired ERP software vendor, Greentree for about $NZ28.5 million.

Greentree is headquartered in Auckland, New Zealand and has more than 850 large business customers across A/NZ and UK.

According to MYOB, $NZ25.1 million has already been paid, with the remainder due in 2017 and 2018 based on satisfying certain conditions.

The Greentree acquisition will add to MYOB’s Enterprise Solutions division which has about 7000 customers.

Last year, the enterprise business contributed about $41 million in revenue, making up about 13 per cent of MYOB’s group revenues.

MYOB outlined its rationale for its purchase, which will see the vendor expand its market reach in the enterprise arena and apply its marketing and distribution resources to help boost growth in Greentree’s existing channel.

MYOB CEO, Tim Reed, said in a statement that Greentree was in line with its strategy of targeting value-add acquisitions.

“Greentree has a very experienced team who collectively bring a wealth of knowledge and experience in the evolving ERP sector,” Reed said.

Consequently, Reed said MYOB will leverage Greentree’s "considerable large company expertise" and provide its online capabilities to the current Greentree product range.

"It’s a compelling partnership which allows Greentree to leverage MYOB’s significant scale and resource and tap into new markets," Greentree CEO, Peter Dickinson, added.


Subscribe here for up-to-date channel news

Follow Us

Join the New Zealand Reseller News newsletter!

Error: Please check your email address.

Tags MYOBgreentreeacquisitionsTim Reed

Featured

Slideshows

StorageCraft celebrates high achievers at its inaugural A/NZ Partner Awards

StorageCraft celebrates high achievers at its inaugural A/NZ Partner Awards

Revealed at a glitzy bash in Sydney at the Ivy Penthouse, the first StorageCraft Partner Awards locally saw the vendor honour its top-performing partners with ASI Solutions, SMBiT Pro, Webroot, ACA Pacific and Soft Solutions New Zealand taking home the top awards. Photos by Maria Stefina.

StorageCraft celebrates high achievers at its inaugural A/NZ Partner Awards
Kiwi resellers make a splash on Synnex and Lenovo RotoVegas road trip

Kiwi resellers make a splash on Synnex and Lenovo RotoVegas road trip

​Synnex and Lenovo hosted 18 resellers for an action-packed weekend adventure in RotoVegas, taking in white water rafting on the Kaituna River, as well as quad biking and dinner at Stratosfare​, overlooking Lake Rotorua at the top of Mount Ngongotaha​. Photos by Synnex.

Kiwi resellers make a splash on Synnex and Lenovo RotoVegas road trip
Show Comments