Head Topics

ANZ Bank stalks accounting software group MYOB

  • 📰 FinancialReview
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 90%

Australia Headlines News

Australia Latest News,Australia Headlines

ANZ Banking Group is considering acquiring private equity-owned accounting software company MYOB to bolster its offering to existing and new small business customers.

Street Talk understands the Melbourne-based lender has held talks with MYOB’s owner, private equity giant KKR, to discuss the merits of the potential deal, and see whether the two could agree on a value.

As it stands, small businesses use accounting programs like MYOB and rivals Xero and QuickBooks to keep track of their finances, and separate bank accounts to manage receipts and payments.While accounting software has been built to link through to bank accounts, small businesses have to reconcile output from the two systems to get a true reflection of their financial position and cash flows.

MYOB reported $502 million revenue in the year to December 31, according to accounts filed with the corporate regulator, and a $104 million loss after tax thanks to its capital structure.

Source: News Formal (newsformal.com)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Dont waste our money on these so called 'investments', it always fails and costs customers plenty in increased fees and home loan rates and lower deposit rates. ANZ_AU australian SkyNewsAust

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in AU

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Igneo checks into Loscam ANZ auctionAt least two big players are readying bids for pallet polling business Loscam’s Australia and New Zealand assets.
Source: FinancialReview - 🏆 2. / 90 Read more »

Elmo Software goes a few rounds with PE suitor, talks endHuman resources, payroll and expense management software group Elmo Software has had a whirlwind courtship with a big name private equity suitor.
Source: FinancialReview - 🏆 2. / 90 Read more »

‘Frustrating to be a guinea pig’: open banking no use for SMEsColin Porter spent $1 million getting open banking accreditation, only to find bank business account data isn’t flowing, so the regime is useless for his start-up. Opt in seems reasonable for customers. More a case for business case due diligence before a million dillar spend
Source: FinancialReview - 🏆 2. / 90 Read more »

Elmo Software confirms acquisition approachListed human resources software business Elmo Software on Tuesday confirmed it was approached by a bidder but didn’t strike a deal.
Source: FinancialReview - 🏆 2. / 90 Read more »

Igneo checks into Loscam ANZ auctionAt least two big players are readying bids for pallet polling business Loscam’s Australia and New Zealand assets.
Source: FinancialReview - 🏆 2. / 90 Read more »

Britney Spears' ex who appeared at wedding charged with stalkingA man once briefly married to Britney Spears who showed up uninvited at the pop star's wedding to longtime boyfriend Sam Asghari has been CHARGED with felony stalking. 9News Wow
Source: 9NewsAUS - 🏆 10. / 72 Read more »