MYOB (company)
| Company type | Private |
|---|---|
| Industry | Technology, Software |
| Founded | early 1980s |
| Headquarters | Melbourne , Australia |
Area served | Australia, New Zealand |
| Products | Business management software (accounting, invoicing, payroll, inventory control, ERP) |
| Owner | KKR & Co. Inc. |
| Website | myob |
MYOB—an acronym originally derived from mind your own business—is an Australian technology enterprise delivering cloud-based business management tools tailored for sole proprietors and medium-sized companies within Australia and New Zealand. Headquartered in Melbourne, this company operates throughout both nations and is under the ownership of the American private equity firm KKR & Co. Inc..
History
Established in the early 1980s by software developers at Teleware, MYOB's trademark was initially utilized by Data-Tech Software, an Australian distributor, around 1991. By 1996, Data-Tech had secured global rights to the MYOB brand, subsequently rebranding itself as MYOB Limited and debuting on the Australian Securities Exchange (ASX) in 1999.
In January 2009, a private equity group spearheaded by Archer Capital took the company private. Subsequently, Archer Capital divested MYOB to Bain Capital in August 2011. MYOB Group Limited returned to the ASX with a public listing in May 2015.
The company attempted to acquire Reckon’s accounting division for $180 million in November 2017; however, regulatory challenges led to the abandonment of this transaction in May 2018.
In April 2018, MYOB divested its rental payment platform RentPay to Rent.com.au for $425,000.
Following its acquisition by KKR, MYOB was removed from the ASX listings in May 2019.
Products
MYOB offers a range of subscription-based business management software solutions encompassing accounting, invoicing, payroll, inventory control, and enterprise resource planning (ERP). Its principal products include:
- Solo by MYOB, introduced in Australia in December 2024, specifically crafted for individual operators.
- MYOB Business Payroll Only, Lite, and Pro, along with MYOB AccountRight Plus and Premier, aimed at small enterprises.
- MYOB Acumatica, a cloud ERP platform intended for medium to large-scale organizations.
- MYOB Practice Management and MYOB Practice Compliance, which cater to accountants and bookkeeping professionals.
Mergers and acquisitions
To broaden its product range and expand market presence, MYOB has pursued numerous acquisitions over time:
- Flare HR Pty Ltd (2022)
- Nimbus (2022)
- GreatSoft Australia (2021)
- Greentree (2016)
- Ace Payroll (2015)
- IMS Payroll (2015)
- PayGlobal (2014)
- BankLink (2013)
- Smartyhost (acquired 2008; sold 2013)
- ilisys (acquired 2008; sold 2013)
- Exonet (2007)
- Comacc Limited (2006)
- Macquarie Outsource Pty Ltd and Macquarie Outsource Sdn Bhd (2006)
- Conto Ltd and JumpStart Computer Accounting and Trainers Ltd (2006)
- Solution 6 Holdings (2004)
- NZA Gold Limited (2003)
- Rorquals Business Solutions Limited (2000)
- SeaSoft Computer Services Sdn Bhd (2000)
- Professional Tools (NZ) Ltd (1999)
- Blue Tongue Technology Pty Ltd (1999)
- CA Systems (1999)
Before merging with MYOB, Solution 6 acquired Xlon Pty Ltd and Ceedata Holdings in 2000, alongside VIZTOPIA Software Limited and MICL Holdings Limited that same year.
Prior to adopting the MYOB name, Data-Tech Software Pty Ltd expanded through acquiring Teletax Systems Pty Ltd in 1997 and Bestware in 1996.
These acquisitions have collectively enhanced MYOB's expertise across payroll services, ERP systems, practice management software, and cloud-based offerings, establishing it as a leading comprehensive provider within the Australasian business software sector.