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.