MYOB LTD. Announces Management Buyout of US Operations

Posted on November 29, 2005, by ed

Rockaway, NJ (November 29, 2005) – MYOB Ltd. (ASX: MYO), global developer of small business accounting and management software and services, today announced the sale of its US operations to Acclivity LLC, an entity owned by certain members of the MYOB US, Inc. management team. Acclivity will act as the exclusive US republisher for MYOB products and services as of December 5, 2005.

Acclivity is owned and managed by Tom Nash, former architect of MYOB US, Inc. product strategy, and Scott Davisson, former head of MYOB US Sales and Marketing. Under the republishing agreement, Acclivity (dba MYOB-US) will provide the same level of superior service and support that MYOB customers have come to expect, while aggressively seeking to grow its user base. MYOB Ltd. will continue to develop MYOB small business accounting and management software for the US market.


“Our chief focus is the continued support of our MYOB customers. It’s important that our customers understand that, from their perspective, nothing changes.” said Tom Nash, Acclivity Managing Partner.

Craig Winkler, CEO MYOB Ltd., commented, “We firmly believe that this structure delivers the best result for MYOB customers, employees and shareholders. And, importantly, our US customers will continue to receive the same world-class products and services that they have always received. We are very pleased with the outcome, and look forward to working closely with our new US republisher over the years to come.”

Acclivity anticipates expanding its existing products and services portfolio through development efforts and strategic partnerships, and will actively listen to its customers for confirmation that its direction remains in alignment with the pivotal needs of small businesses.

“Long term, it’s our goal to leverage our experience within the small business and accountant markets to identify opportunities for growth,” said Scott Davisson, Acclivity Managing Partner. “In many ways this transaction allows for the best of both worlds. We’ll continue to work closely with MYOB Limited, a first rate, global organization, while taking advantage of the freedom and entrepreneurial spirit of a small business.”

Acclivity LLC will remain at MYOB’s current location in Rockaway, NJ and will retain the same phone and fax numbers.

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