MYOB Group to buy Ace Payroll Plus

Company News

Accounting software provider MYOB Group Limited (ASX:MYO) has inked a deal to buy New Zealand-based Ace Payroll Plus Limited. 

MYOB will pay $NZ14 million, or $AUD13.2 million, to buy the provider of payroll solutions.  

The acquisition is expected to strengthen MYOB’s position as a provider of payroll software in New Zealand and increase its average revenue per paying user. 

MYOB says Ace Payroll Plus is a profitable business that will be immediately accretive to the company’s earnings. 

MYOB Group returned to the ASX at the beginning of May with an issue price of $3.65. 

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?