MYOB exits UK and Ireland markets
Business software provider MYOB has sold the last of its UK and Ireland business divisions, leaving it free to focus on its leadership positions in Australia and New Zealand, as well as on growth opportunities in Asia.
MYOB yesterday signed an agreement to sell its UK business division to Mamut ASA for a cash payment of £1.7 million.
The division, which generated 10 per cent of MYOB’s UK and Ireland revenue, had not been operating profitably in recent years, according to chief executive Craig Winkler.
Earlier this month, MYOB divested the other 90 per cent of its UK and Ireland divisions to Wolters Kluwer for £35.5 million.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
