Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


MYOB expands offering for larger business in Australia & NZ

14 August 2014

MYOB expands offering for larger business in Australia and New Zealand

MYOB acquires HR and payroll solutions company PayGlobal

MYOB Finance NZ Limited, a subsidiary of MYOB Holdings Pty Limited (“MYOB”), today announced it has signed a conditional agreement to purchase PayGlobal Limited.

MYOB is a market leader in the provision of business, HR and payroll solutions to larger businesses. Uniting the companies is a key strategic move by MYOB. The acquisition will leverage complementary strengths in Australia and New Zealand markets, and it is consistent with MYOB’s focus on making business life easier.

PayGlobal offers HR and payroll solutions that are accessed by over 500,000 employees from leading companies in New Zealand and Australia. Established in 1991, PayGlobal’s head office is in Christchurch and it has a similar footprint to MYOB with offices throughout Australia and New Zealand.

MYOB is a leading accounting software provider in Australia and New Zealand, supporting 1.2 million small, medium and larger businesses. PayGlobal’s suite is a natural extension to MYOB’s existing EXO Business and EXO Employer Services suite, and will form part of its larger business offering.

MYOB Chief Executive Officer, Tim Reed says, “I’m really proud to announce the acquisition of PayGlobal by MYOB. The union leverages the strengths of both organisations to broaden the range of leading HR and payroll solutions MYOB provides to the mid-to-large-size market in Australia and New Zealand. It also creates new opportunities for PayGlobal clients.”

“In introducing complementary solutions to our popular EXO offering for larger businesses – a market we continue to focus heavily on – MYOB is also demonstrating our commitment to invest exclusively in the local market. Over the past three years we have invested over NZ$100 million in research and development to provide comprehensive solutions that make business life easier.”

PayGlobal Chairman, Greg Lancaster says, “PayGlobal looks forward to accelerated market penetration of its HR and Payroll solutions with MYOB. PayGlobal already has both a high quality client base and a high calibre team across Australia and New Zealand and is a natural fit with MYOB’s direction, which will offer new and existing clients - as well as the team - exciting opportunities.”

MYOB will fund the acquisition from existing cash reserves. The acquisition is scheduled to be completed on 31 August 2014.

For MYOB product information, research results, business tips, discussions, client service and more visit the MYOB website, or its blog, LinkedIn, Twitter, Facebook, Instagram and YouTube sites.

About MYOB Group
MYOB is a leading provider of business management, accounting, payroll and tax software in Australia and New Zealand, supplying its software, services and support to small and medium sized enterprises (“SMEs”), larger businesses and public accountants. MYOB commenced operations over 20 years ago and now supports 1.2 million small, medium and larger businesses, and more than 40,000 accountants across Australia and New Zealand. Over the past three years, MYOB has invested over NZ$100 million in R & D, employs more than 1100 staff and is headquartered in Melbourne, Australia. It has four key business divisions, which are supported by group functions including finance, strategy, marketing, IT, legal and human resources. Overall, MYOB has continued to enjoy robust financial performance, with FY13 seeing revenue rise by 13% to A$246.6 million and EBITDA rise by 14% to A$120.9 million.

About PayGlobal
PayGlobal provides HR and payroll software for the larger businesses throughout Australia and New Zealand. The company was established in 1991 and is headquartered in Christchurch. It is an industry leader in the mid-to larger sized market segment serving customers such as Kmart (NZ), The Warehouse (NZ), Vodafone, Compass, The Good Guys and Trademe. PayGlobal is locally built for the Australian and New Zealand marketplace and its software pays over half a million employees.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Gordon Campbell: On The Australians Scoring Trade Points Against Us With The Chinese

It hasn’t been a great year for Trade Minister Tim Groser... To top it off, Australia has just signed a FTA with China that has far better provisions on dairy exports than what New Zealand currently enjoys in our own FTA with China. More>>

ALSO:

Iwi & Local Consultation: Oil And Gas Block Offer 2015 Begins

Energy and Resources Minister Simon Bridges today announced the start of the Block Offer 2015 process for awarding oil and gas exploration permits. More>>

Industrial Action: Stats NZ Throwing Public Money Away Duplicating Data

The Public Service Association (PSA) says Statistics NZ are throwing money away by collecting the same data twice for official statistics such as the Consumer Price Index... As part of the ongoing industrial action, field interviewers who are PSA members are continuing to collect data, but are not sending it through to Statistics NZ. More>>

ALSO:

Other Stats:

Space: Rosetta's 'Philae' Makes Historic First Landing On A Comet

After more than a decade traveling through space, a robotic lander built by the European Space Agency has made the first-ever soft landing of a spacecraft on a comet. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news