MYOB Group Limited
(ASX:MYO) has announced it will acquire payment processor Paycorp for $48M, as it looks to build out its accounting software payments strategy.
The company is looking to bridge the gap between its software platform and payment offerings, as it looks to further integrate payments into accounting workflows.
The acquisition will join a portfolio of existing payment products, including the company’s PayDirect mobile and online solutions.
MYOB expects the acquisition to create new revenue streams for the company, allowing it to have direct commercial relationships with acquirers.
MYOB Group Limited reported a full year net profit yesterday of $56.6M for the period ending 31 December 2016.
