MYOB Group Limited
(ASX:MYO) has acquired New Zealand-based payroll provider Information Management Services Limited.
The deal was inked for a purchase price of NZ$9.7 million.
The solutions provider paid NZ$8.1 million on completion. The remainder of the settlement balance is due in 2016 and 2017 based on satisfying certain conditions.
MYOB Chief Financial Officer Richard Moore said the acquisition forms part of MYOB’s strategy of targeting value-add acquisitions which enhance MYOB’s core business.
MYOB Group Limited recorded a first half loss of $65 million.
