Menu
MYOB acquires BankLink

MYOB acquires BankLink

Company completes NZ$136m acquisition

MYOB Finance NZ Limited has completed the purchase of New Zealand accounting solutions provider BankLink from Media Transfer Services Limited for NZ$136m. Signing of the purchase agreement had been announced to the Australian Securities Exchange on May 14. MYOB says the deal marks "a significant strategic move" within the cloud computing space and will strengthen the company's financial position as well as boost its share in its ANZ core markets. “Together, MYOB and BankLink have a distinct competitive advantage in delivering our cloud strategy. We now offer an even more comprehensive product suite, addressing the needs of micro businesses through to medium-sized enterprises. The acquisition strengthens the footprint of our business, further secures our market position and will contribute to the strong profit we make every year,” says MYOB CEO Tim Reed. “Sales of AccountRight Live and LiveAccounts now account for one-third of all new MYOB product registrations. However, we recognise the unique needs of every SME by continuing to provide a full suite of both cloud and desktop accounting solutions," he adds. “Bringing together two market-leading businesses enables us to strengthen our accounting industry relationships and to realise greater efficiencies and economies of scale in bringing a superior offering to market. We have received positive feedback from many accountants who see the benefits of the union. With MYOB’s sizeable investment in research and development, which was more than NZ$35 million last year and will increase further this year, our vision is to deliver a fully integrated line-up to benefit all accountants and clients." According to Reed, all MYOB cloud accounting solutions will continue to be powered by BankLink bank feeds.


Follow Us

Join the newsletter!

Error: Please check your email address.

Featured

Slideshows

Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP honoured leading partners across the channel at the Partner Awards 2017 in New Zealand, recognising excellence across the entire print and personal systems portfolio.

Meet the top performing HP partners in NZ
Tech industry comes together as Lexel celebrates turning 30

Tech industry comes together as Lexel celebrates turning 30

Leading figures within the technology industry across New Zealand came together to celebrate 30 years of success for Lexel Systems, at a milestone birthday occasion at St Matthews in the City.​

Tech industry comes together as Lexel celebrates turning 30
HP re-imagines education through Auckland event launch

HP re-imagines education through Auckland event launch

HP New Zealand held an inaugural Evolve Education event at Aotea Centre in Auckland, welcoming over 70 principals, teachers and education experts to explore ways of shaping and enhancing learning using technology.

HP re-imagines education through Auckland event launch
Show Comments