MYOB to buy NZ's Ace Payroll for $14 mln in latest acquisition

Thu, 28 May 2015

By Paul McBeth May 28 (BusinessDesk) - MYOB Group, the Australian payment solutions software developer that floated on the ASX this month, has agreed to buy Lower Hutt-based Ace Payroll Plus for $14 million, its third New Zealand acquisition in as many years. The Melbourne-based company will pay $7 million on completion of the deal, and the remainder next year subject to meeting certain conditions, adding Ace's payrolls service which is used by thousands of New Zealand small- and medium-sized enterprises, MYOB said in a statement. Ace is...

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