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Company type | Private company |
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Industry | Information technology |
Predecessor | Data-Tech Software |
Founded | 1991 |
Headquarters | Cremorne, Victoria |
Key people | Paul Robson (CEO) |
Products | Accounting software, ERP |
Parent | KKR |
Website | MYOB.com |
MYOB (originally abbreviated from mind your own business) is an Australian technology company that provides cloud-based business management solutions to sole operators through to mid-sized businesses in Australia and New Zealand. [1] [2] The head office is in Melbourne, Australia, with offices across Australia and New Zealand. It is owned by KKR. [3]
MYOB was founded in the early 1980s by a team of developers at Teleware. [4]
Data-Tech Software, the Australian republisher of MYOB products, first used the MYOB trade mark on or around 1991, acquiring the worldwide rights to the MYOB software in 1996. In 1999, Data-Tech changed its name to MYOB Limited and listed on the Australian Securities Exchange (ASX). [5]
In January 2009, a private equity consortium led by Archer Capital completed a takeover bid, returning MYOB to private ownership. In August 2011, Archer Capital sold MYOB to Bain Capital. [6] [7] [8]
MYOB Group Limited was re-listed on the Australian Securities Exchange in May 2015. [9]
In November 2017, MYOB proposed to buy Reckon's accounting group for $180 million. [10] However, failure to obtain regulatory permission caused the deal to fall apart in May 2018. [11]
In April 2018, MYOB sold its rental payment system RentPay to Rent.com.au for $425,000. [12] [13]
MYOB Group Limited was delisted from the ASX in May 2019, after it sold to private equity firm KKR. [14]
MYOB offers subscription-based business management software with features such as accounting, invoicing, payroll, inventory management and enterprise resource planning (ERP). Its product range includes:
Acquisitions by Solution 6 before the merger with MYOB
Acquisitions by Data-Tech Software Pty Ltd before changing the name to MYOB