MYOB CEO Tim Reed said more than 60 percent of Australian and New Zealand accounting practices use an MYOB product. The company said it had spent more than $32.3 million ($45 million Australian) on R&D in 2015 and it expanded the number of API partners to 3,500 at the end of 2015, compared to 2,000 at the end of 2014. It also brought to market MYOB Advanced, which is based on Acumatica, and took a stake in the latter company. During the last year, MYOB strengthened its move into New Zealand with the acquisition of payroll providers, Ace Payroll and Information Management Services. MYOB, which has been privately held for several years, went public for the second time, with owner Bain Capital retaining its ownership.