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.

Featured

Slideshows

The making of an MSSP: a blueprint for growth in NZ

The making of an MSSP: a blueprint for growth in NZ

Partners are actively building out security practices and services to match, yet remain challenged by a lack of guidance in the market. This exclusive Reseller News Roundtable - in association with Sophos - assessed the making of an MSSP, outlining the blueprint for growth and how partners can differentiate in New Zealand.

The making of an MSSP: a blueprint for growth in NZ
Reseller News Platinum Club celebrates leading partners in 2018

Reseller News Platinum Club celebrates leading partners in 2018

The leading players of the New Zealand channel came together to celebrate a year of achievement at the inaugural Reseller News Platinum Club lunch in Auckland. Following the Reseller News Innovation Awards, Platinum Club provides a platform to showcase the top performing partners and start-ups of the past 12 months, with more than ​​50 organisations in the spotlight.​​​

Reseller News Platinum Club celebrates leading partners in 2018
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP has honoured its leading partners in New Zealand during 2018, following 12 months of growth through the local channel. Unveiled during the fourth running of the ceremony in Auckland, the awards recognise and celebrate excellence, growth, consistency and engagement of standout Kiwi partners.

Meet the top performing HP partners in NZ
Show Comments