Accounting software provider MYOB has acquired the New Zealand-based BankLink in a move to bolster its cloud accounting capabilities.
Purchased for NZ$136 million by MYOB’s subsidiary, MYOB Finance NZ, BankLink offers business management solutions to small- to -medium entities and accountants and operates throughout New Zealand and Australia.
Both the BankLink Practice solution and MYOB’s AccountRight Live will be backed by BankLink’s secure bank feeds, MYOB stated.
MYOB chief executive Tim Reed said partnerships with accountants in practice is key to its online strategy, and the acquisition will allow accountants to recommend the most appropriate accounting solution for their SME clients.
He added that providing accountants with automatic bank feeds was a significant step forward for its accounting solution.
MYOB brought its AccountRight Live solution to market in October last year.
