KKR completes acquisition of Aussie accounting software firm MYOB
Summary
US-based private equity major KKR has completed the acquisition of Australian accounting software provider MYOB Group. The investment has been made through KKR’s $9.3 billion flagship Asian Fund III. Later it sweetened the offer price raising it to A$3.77 per share, at one point valuing the company at $1.61 billion. It largely caters to medium and small businesses in Australia and New Zealand. “We are excited to partner with and support MYOB as it accelerates the company’s growth plans in Australia and New Zealand while also exploring the significant opportunities it has to offer its customers new products and solutions, said David Lang, Member at KKR.
Classifications
industries
Retail
applications
Accounting and Taxes
AskAI Classifications
Labels
Accounting Software
ERP Software
Payroll Software
Linked Companies
MYOB
$250M to $500M