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.



Follow Us

Join the New Zealand Reseller News newsletter!

Error: Please check your email address.

Tags MYOBgreentreeacquisitionsTim Reed

Featured

Slideshows

Kiwi channel comes together for another round of After Hours

Kiwi channel comes together for another round of After Hours

The channel came together for another round of After Hours, with a bumper crowd of distributors, vendors and partners descending on The Jefferson in Auckland. Photos by Maria Stefina.​

Kiwi channel comes together for another round of After Hours
Consegna comes to town with AWS cloud offerings launch in Auckland

Consegna comes to town with AWS cloud offerings launch in Auckland

Emerging start-up Consegna has officially launched its cloud offerings in the New Zealand market, through a kick-off event held at Seafarers Building in Auckland.​ Founded in June 2016, the Auckland-based business is backed by AWS and supported by a global team of cloud specialists, leveraging global managed services partnerships with Rackspace locally.

Consegna comes to town with AWS cloud offerings launch in Auckland
Veritas honours top performing trans-Tasman partners

Veritas honours top performing trans-Tasman partners

Veritas honoured its top performing partners across the channel in Australia and New Zealand, recognising innovation and excellence on both sides of the Tasman. Revealed under the Vivid lights in Sydney, Intalock claimed the coveted Partner of the Year 2017 (Pacific) award, with Data#3 acknowledged for 12 months of strong growth across the market. Meanwhile, Datacom took home the New Zealand honours, with Global Storage and Insentra winning service provider and consulting awards respectively. Dicker Data was recognised as the standout distributor of the year, while Hitachi Data Systems claimed the alliance partner award. Photos by Bob Seary.

Veritas honours top performing trans-Tasman partners
Show Comments