MYOB moves to acquire GreatSoft

MYOB, a leading provider of business management solutions in Australia and New Zealand, is set to accelerate its cloud-based Practice Management solutions, moving to acquire cloud-based practice management software provider, GreatSoft.

The acquisition, currently undergoing ACCC review, will bring together GreatSoft’s scalable cloud-based practice management software, with MYOB’s suite of software solutions.

MYOB CEO, Greg Ellis, said the acquisition will fast-track MYOB’s delivery of a cloud-based solution for Practice Management and provide an upgrade path for practices looking for a strong cloud offering to help them on their digitisation journey.

“This is a significant step forward in MYOB’s acceleration of cloud-based practice management solutions and will provide accounting practices with new capabilities to drive connectivity, efficiency and security for accountants and their clients,” said Mr Ellis.

“We are excited by the opportunity to bring together GreatSoft’s cutting-edge cloud-based practice management software with MYOB’s portfolio software solutions, to give accountants greater choice, control and flexibility.”

The acquisition will see features such as document management, client accounting and tax offered to practices, as well as providing them with the flexibility and freedom to integrate easily with other cloud-based software through APIs, offering a 360-degree view of their clients.

 The acquisition is undergoing ACCC review with outcomes expected in early 2021.

ENDS

For further comment or other information please contact:

Lia Pacquola, Head of Corporate Affairs, MYOB, lia.pacquola@myob.com
Sarah Gundlach, Senior Consultant, Character + Distinction, sarah.gundlach@ofcharacter.com

About MYOB
MYOB is a leading business platform with a core purpose of helping more businesses in New Zealand and Australia start, survive and succeed. At the heart of MYOB is a customer base of 1.2 million businesses and a network of more than 40,000 accountants, bookkeepers and consultants, for whom MYOB delivers end-to-end business and accounting solutions. MYOB operates across four key segments: Small and Medium Enterprises (SME), Enterprise, Financial Services and Practice. For more information visit myob.com or follow @MYOB on Twitter.  

About GreatSoft 
GreatSoft is an innovative and award-winning software development company that provides cutting edge cloud-based software solutions. It offers scalable, integrated cloud-based practice management solutions created to meet the needs of progressive accounting firms, including mid-tier and large firms. GreatSoft’s practice management solutions successfully service over 1,000 customers across 19 territories, including leading accounting and auditing firms in Australia and New Zealand.