KKR Acquisition Overshadows MYOB’s Solid 2018 Result
Narrow-moat rated MYOB’s 2018 financial result was in line with our expectations but overshadowed by KKR’s likely acquisition of the company. Group EBITDA was within 1% of our forecast, implying no growth on the prior year, although group revenue growth of 7% was respectable and sustainable. Weak profit growth is consistent with management’s long-held plan to transition the company to cloud based products via its Connected Practice strategy. This involves reinvesting profits into the cloud platf...MYOB Group is engaged in development and publishing of software and the provision of services for small and medium enterprises, including accountants in public practice. Co.'s operating segments comprise of SME Solutions, which provides business management software and services to small and medium enterprises; Practice Solutions, which provides business software and services to accounting professionals in practice; and Enterprise Solutions, which provides enterprise resource planning and human resource management software and services to medium and large enterprises.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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