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MYOB Expands Employer Services

1 August 2006

MYOB Expands Employer Services:
Acquires Leading New Zealand Provider

In a significant expansion of its employer services offering, MYOB has announced its acquisition of Comacc Limited, an Auckland-based provider of personnel and payroll management solutions, to the Australian Stock Exchange today.

This acquisition confirms MYOB as the largest provider of employer services in New Zealand, with the combined operation helping New Zealand businesses to pay over 410,000 employees.

Comacc, which was established over 15 years ago, provides a range of employer services to businesses in New Zealand, Australia and the South Pacific. The company employs 38 staff in its New Zealand office.

MYOB NZ Managing Director David Lowe says the acquisition marks an exciting new stage in the development of MYOB’s range of services for New Zealand businesses.

“MYOB has long been the champion of New Zealand business, providing services and solutions that make life easier and reduce the burden of administration. One of the key issues businesses face is managing staff. Comacc have a excellent family of solutions and a great reputation for helping employers manage payroll and personnel.”

“MYOB and Comacc offer a range of complementary products and services, which we intend to build on for the benefit of customers of both companies,” says David Lowe.

As well as payroll software, time and attendance software and hardware, and a number of other employee management tools, Comacc also provide payroll bureau services and temporary payroll staff.

David Lowe says the purchase of Comacc also underscores MYOB’s commitment to meeting the needs of mid-sized NZ businesses.

“Over a third of Comacc’s customers employ between 50 and 200 people, a scale of business MYOB is increasingly working with in New Zealand, particularly since the establishment of MYOB Exonet.”

“The acquisition is also part of our continuing investment in business support services, designed specifically for the needs of local businesses.”

Renowned for its multi-award winning range of business products, MYOB has recently focussed on extending its business support services. Earlier this year the company acquired JumpStart, a specialised training business, in order to reinforce its business-training programme.

ENDS

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