ANZ has confirmed it is in talks to buy accounting software company MYOB for more than $4.5 billion in a move that highlights the big four banks’ insatiable appetite for more sensitive data and could open the way to greater deal activity in the business software sector.
On Wednesday ANZ Bank confirmed it was considering buying MYOB from KKR in a deal first revealed by Street Talk last month. Sources said ANZ would pay more than $4.5 billion and the deal, if approved, could be sealed by Friday.
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Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au
Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com
