Morningstar | MYOB Takeover Likely Following Board Support for KKR Offer
We expect MYOB to benefit from the transition from desktop to cloud-based accounting software products during the next decade. The company is the largest provider of accounting software to small and midsize enterprises, or SMEs, in Australia and New Zealand, with about 1.2 million users, representing 48% of the addressable market. However, about 600,000 customers have perpetual licences and pay no fees to MYOB, so transitioning these customers to cloud products will drive revenue and earnings growth. The SME segment generates about 60% of group earnings, with about 30% attributable to accounting practice management software. MYOB has a market share of approximately 65% in the APM segment, which acts as a key strategic advantage, as accountants usually recommend their software provider to small-business clients.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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