Greentree, which markets both on-premise and cloud-based software, has customers in those two countries and in the United Kingdom and the United States. Greentree has been owned by CEO Peter Dickinson since its founded in 2001. Greentree has a small channel—only one reseller, Crestwood Associates, in the United States. However, MYOB said the deal will enable it to grow through the Greentree channel. MYOB, founded in the U.S., has not been in this country for several years. Among its recent moves is the early 2015 launch of MYOB, based on Acumatica.
MYOB BUYS GREENTREE Featured
Australia-based MYOB has acquired Greentree, which makes financial software for companies with roughly 100 to 1,000 employees. MYOB is buying Auckland, N.Z.-based Greentree for $20.5 million. The move will give MYOB a broader geographical reach and a larger potential base of clients. MYOB operates in Australia and New Zealand and serves companies with about 20 to 500 employees.
