A bargain-hunting investment consortium named Manhattan Software Bidco has offered around $443 million plus options in a takeover bid for Australia's leading accounting software brand, MYOB.
MYOB has divested the last of its UK and Ireland businesses, announcing today it has signed an agreement to sell its UK business division to Mamut ASA for 1.7 million in cash.
After receiving the green light from the Federal Court on Monday to merge with Solution 6, MYOB is anticipating eventual annual cost savings of AU$10 million to AU$12 million from the deal.
Following yesterday's announcement of a merger between Solutionn 6 and MYOB, both companies think the timing is just right even with the reported $70.1 million loss of Solution 6 last year.
Craig Winkler, the founder and former chief executive of accounting software firm MYOB, has made his first major investment since MYOB was taken over in February this year.
2009 in review
What were the top five stories that shaped 2009? From the launch of Microsoft's Windows 7 OS, to the departure… Watch it now
Google Chrome OS demonstration
Vice President of Product Marketing Sundar Pichai gives a virtual tour of Google's new operating system, Chrom… Watch it now
Malcolm Turnbull's ghost twitterer
At the Sydney Media140 conference several weeks ago, Opposition Leader Malcolm Turnbull admitted he doesn't pe… Watch it now
Sun shining on Ajnaware
Holiday IT to-do lists
Chapman's rough end of the pineapple
Come to our reader Christmas party!
Drinks with the ZDNet AU team, Wednesday 9th December, from 6pm.
Mark your diaries!
Optus Deal
Broadband + home phone + PlayStation®3 in a single package price!
Click here for more!
Best Laptops
Check out the best laptops here!
Click here for more.