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Mergers & Acquisitions

MYOB’s cloud focus continues with the acquisition of document management startup Nimbus

- February 2, 2022 2 MIN READ
Caroline Rawlinson
MYOB's Caroline Rawlinson
Business management and accounting platform MYOB has upped the ante on its SaaS offerings with the announcement of the acquisition of cloud document management software provider, Nimbus Portal Solutions.

The value of the deal was not revealed by MYOB.

Adding the Australian-owned-and-operated document management service to its stable will allow MYOB to provide an integrated secure client portal tailored to the needs of accountants and practice managers.

MYOB chief financial officer, Caroline Rawlinson, said the company’s investment was a move to accelerate the delivery of a cloud solution that had widespread customer demand and appeal.

“We know how important it is for our accountant and practice customers to have solutions which help their teams collaborate efficiently in distributed work environments, improve their client engagement and meet their document storage compliance obligations – Nimbus ticked all these boxes in spades,” she said.

 

MYOB SaaS solutions grow

The announcement follows a year where MYOB has made good on its promise to improve the connectivity capabilities, efficiencies and security of its Practice Solutions offering, and follows the acquisition of Customer Relationship Management (CRM) solution, Tall Emu.

Tall Emu delivers full end-to-end management of business operations, offering a customer relationship management tool with additional capabilities to link in key sales processes, providing a seamless, real-time view of the business operations.

Tall Emu’s unique functionality includes the ability to see and track multiple sales flows including marketing and lead management, quoting and selling, online payment, back-order handling, fulfilment and delivery and post-sales services.

The acquisition follows hot on the heels of MYOB’s purchase of practice management software GreatSoft, last year.

MYOB is owned by US private equity firm KKR in a $1.6 billion takeover that saw the company delisted from the ASX in 2019.

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