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MYOB Buys Banklink for $136 Million

Everest Business Solutions - Thursday, May 16, 2013

The purchase of Bankling for $136 Million by MYOB has just been announced and the sale is expected to be completed in June this year.

For 25 years BankLink have been electronically providing secure, reliable and accurate bank transaction feeds to accountants. The BankLink solutions drive significant productivity gains and have seen the BankLink business grow significantly. It now has more than 140 employees servicing around 5,000 accounting practices and 320,000 businesses across Australia and New Zealand. Each month, it securely delivers over 13 million customer transactions from over 100 banks, credit unions, brokers and fund managers, says James Scollay MYOB General Manager – Business Division.

MYOB has been the leader in accounting software to SME’s for the past 20 years and this acquisition will further strengthen its position in the market ahead of expected moves into the market by Sage from the UK and  America based Intuit.