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MYOB s acquisition of GreatSoft not opposed

Date Time MYOB’s acquisition of GreatSoft not opposed The ACCC will not oppose MYOB Invest Co Pty Ltd’s acquisition of GreatSoft Pty Ltd, finding the transaction is not likely to substantially lessen competition. MYOB and GreatSoft both supply practice management software to medium-to-large accounting firms. MYOB offers desktop practice management software, and GreatSoft offers a cloud-based solution. The ACCC’s investigation focused on GreatSoft’s potential to grow into a strong competitor, given that GreatSoft had succeeded in winning a number of medium-to-large customers, including MYOB customers, when it first launched its product in 2019. However, the ACCC concluded that GreatSoft will likely face challenges expanding its small customer base in the short to medium term if the acquisition does not go ahead.

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ACCC clears path for MYOB s GreatSoft acquisition

By Kate Weber on Apr 16, 2021 1:08PM After initial fears buyout could hinder competition. The Australian Competition and Consumer Commission (ACCC) won’t oppose MYOB’s acquisition of accounting software GreatSoft, finding it won t weaken market competition. Under the purchase, MYOB plans to combine its desktop practice management software with GreatSoft’s a cloud-based accounting solution. GreatSoft provides a single cloud-based practice management module that integrates with third-party software suppliers for other accounting modules, including Xero for Xero Tax. The ACCC was originally concerned the acquisition would significantly reduce market competition, leaving only three major suppliers of practice management software for medium-to-large customers.

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iTWire - ACCC not opposed to MYOB acquisition of GreatSoft

iTWire - ACCC not opposed to MYOB acquisition of GreatSoft
itwire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from itwire.com Daily Mail and Mail on Sunday newspapers.

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Innovative Australian tech firm show no signs of slowing when it comes to helping accountants work smarter

Innovative Australian tech firm show no signs of slowing when it comes to helping accountants work smarter
accountantsdaily.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accountantsdaily.com.au Daily Mail and Mail on Sunday newspapers.

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Preliminary competition concerns over MYOB s GreatSoft acquisition

The ACCC has outlined preliminary competition concerns that MYOB's proposed acquisition of GreatSoft could substantially lessen competition in the.

South africaNew zealandSouth africanStephen ridgewayGreatsoft proprietaryXero practice managerGreatsoft proprietary limitedA triple cபுதியது ஜீலாந்துஸ்டீபன் ரிட்ஜ்வேக்ஷேரோ ப்ர்யாக்டீஸ் மேலாளர்