Join us in Wellington 4th December and Auckland 27th November
Want to help us test an ads-free Geekzone? Register for webpass now

Geekzone: technology news, blogs, forums
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
MYOB acquires HR and payroll solutions company PayGlobal
Posted on 14-Aug-2014 19:22. | Tags Filed under: News.

MYOB Finance NZ Limited, a subsidiary of MYOB Holdings Pty Limited (“MYOB”), has signed a conditional agreement to purchase PayGlobal Limited.

MYOB sees uniting the companies as a key strategic move. The acquisition will leverage complementary strengths in Australia and New Zealand markets, and it is consistent with MYOB’s focus on making business life easier.

PayGlobal offers HR and payroll solutions that are accessed by over 500,000 employees from leading companies in New Zealand and Australia. Established in 1991, PayGlobal’s head office is in Christchurch and it has a similar footprint to MYOB with offices throughout Australia and New Zealand.

MYOB is a leading accounting software provider in Australia and New Zealand, supporting 1.2 million small, medium and larger businesses. PayGlobal’s suite is a natural extension to MYOB’s existing EXO Business and EXO Employer Services suite, and will form part of its larger business offering.

MYOB Chief Executive Officer, Tim Reed says, “I’m really proud to announce the acquisition of PayGlobal by MYOB. The union leverages the strengths of both organisations to broaden the range of leading HR and payroll solutions MYOB provides to the mid-to-large-size market in Australia and New Zealand. It also creates new opportunities for PayGlobal clients.”

“In introducing complementary solutions to our popular EXO offering for larger businesses – a market we continue to focus heavily on – MYOB is also demonstrating our commitment to invest exclusively in the local market. Over the past three years we have invested over NZ$100 million in research and development to provide comprehensive solutions that make business life easier.”

PayGlobal Chairman, Greg Lancaster says, “PayGlobal looks forward to accelerated market penetration of its HR and Payroll solutions with MYOB. PayGlobal already has both a high quality client base and a high calibre team across Australia and New Zealand and is a natural fit with MYOB’s direction, which will offer new and existing clients - as well as the team - exciting opportunities.”

MYOB will fund the acquisition from existing cash reserves. The acquisition is scheduled to be completed on 31 August 2014.

comments powered by Disqus

Trending now »

Hot discussions in our forums right now:

A 17 second violation of airspace? Is Turkey nuts?
Created by DaveB, last reply by xlinknz on 27-Nov-2015 16:32 (79 replies)
Pages... 4 5 6

Black Friday 2015 - Post Deals here
Created by Finch, last reply by joker97 on 28-Nov-2015 15:30 (71 replies)
Pages... 3 4 5

How to collect from a debtor - any ideas?
Created by jmh, last reply by Geektastic on 28-Nov-2015 22:38 (21 replies)
Pages... 2

Reliable hatchback for $6k?
Created by TeaLeaf, last reply by Jase2985 on 28-Nov-2015 21:43 (20 replies)
Pages... 2

Ford Eco Sport Titanium-Looking to buy
Created by psychrn, last reply by gzt on 28-Nov-2015 14:08 (37 replies)
Pages... 2 3

Huawei and 2degrees Nexus 6P 64/128 GB offer for Geekzone users
Created by freitasm, last reply by droopanu on 27-Nov-2015 15:58 (679 replies)
Pages... 44 45 46

Weight loss fluctuations
Created by Geektastic, last reply by Geektastic on 28-Nov-2015 23:45 (16 replies)
Pages... 2

Wireless broadband in Wellington?
Created by zhzh, last reply by zhzh on 28-Nov-2015 20:08 (16 replies)
Pages... 2