MYOB acquires NZ-based Ace Payroll for $14M

MYOB acquires NZ-based Ace Payroll for $14M

MYOB has further strengthened its position in the New Zealand payroll and accounting solutions market by signing an agreement to acquire Wellington-based Ace Payroll Plus Limited for a purchase price of NZ$14 million, the company announced today.

“I am delighted that MYOB is uniting with Ace Payroll. Together we are the most experienced and the most popular provider of payroll solutions in New Zealand,” says SME Solutions General Manager James Scollay. “Ace Payroll provides payroll solutions for thousands of New Zealand SMEs. Just like MYOB, it has been in this market for over 20 years, and has established a proven track record of making it easy for Kiwi employers to pay their staff.”

MYOB also announced today that it is embarking on the development of the next generation of online payroll solutions. Mr Scollay says the company will leverage the experience it has gained in this market to extend the capability of its online payroll tools. MYOB is experiencing strong uptake of its online solutions, with 67% of new customers choosing cloud solutions in Q4 2014.

Ace Payroll is the third New Zealand company to be acquired by MYOB in two years, and follows the successful integration of BankLink (acquired in 2013) and PayGlobal (acquired in 2014). Mr Scollay says this demonstrates the company’s admiration and appreciation for Kiwi innovation and technology.

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