Australia has the largest number of Xero users, but MYOB says it has the largest number of SMB financial software users on that continent. MYOB went private for several years after its acquisition by Bain Capital. The private equity investment group still owns MYOB, which went public in Australia in July.
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MYOB BUYS NZ PAYROLL UNIT Featured
Newly (again) public MYOB has acquired New Zealand-based Ace Payroll Plus for about $10 million. MYOB also separately announced it is developing a new generation of online payroll products for New Zealand customers. Ace is said to serve about 1.3 million Australian and New Zealand SMBs. I mention this because even though MYOB does not operate in the United States, the fact it is ramping up in Xero's home country of New Zealand makes the worldwide battle of online accounting software providers interesting.
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