New Zealand’s two leading financial software companies, MYOB and Quicken, announced this month separate acquisitions to further their position in the market.
Auckland- based payroll management and human resources company Comacc was acquired by MYOB, while Quicken announced their takeover of cashbook product EasyBooks.
CEO of Rafael Technologies trading as Quicken, Kerry Wood says EasyBooks has a good reputation and that is a good way of reaching smaller customers.
“The entry level cashbook market is obviously where most small business start. To have a good product in that arena is an important step in the company’s development”
The managing director of MYOB, David Lowe, says the acquisition is further proof of MYOB’s continuing development in New Zealand.
“Both companies offer a range of complementary products and services, which we intend to build on for the benefit of customers of both companies.”
Comacc employs 38 people in its New Zealand office, with over a third of the company’s customers employing between 50 and 200 people; a market MYOB has expressed interest in.
EasyBooks currently have more than 8000 customers, who will be given access to Quicken’s other relevant tools. EasyBooks employees have moved in with Quicken at their Albany office.