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!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Events

Featured

Slideshows

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

This year’s Reseller News 30 Under 30 Tech Awards were held as an integral part of the first entirely virtual Emerging Leaders​ forum, an annual event dedicated to identifying, educating and showcasing the New Zealand technology market’s rising stars. The 30 Under 30 Tech Awards 2020 recognised the outstanding achievements and business excellence of 30 talented individuals​, across both young leaders and those just starting out. In this slideshow, Reseller News honours this year's winners and captures their thoughts about how their ideas of leadership have changed over time.​

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners
Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security

Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security

This exclusive Reseller News Exchange event in Auckland explored the challenges facing the partner community on the cloud security frontier, as well as market trends, customer priorities and how the channel can capitalise on the opportunities available. In association with Arrow, Bitdefender, Exclusive Networks, Fortinet and Palo Alto Networks. Photos by Gino Demeer.

Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security
Reseller News welcomes industry figures at 2020 Hall of Fame lunch

Reseller News welcomes industry figures at 2020 Hall of Fame lunch

Reseller News welcomed 2019 inductees - Leanne Buer, Ross Jenkins and Terry Dunn - to the fourth running of the Reseller News Hall of Fame lunch, held at the French Cafe in Auckland. The inductees discussed the changing face of the IT channel ecosystem in New Zealand and what it means to be a Reseller News Hall of Fame inductee. Photos by Gino Demeer.

Reseller News welcomes industry figures at 2020 Hall of Fame lunch
Show Comments