Australian software company MYOB has acquired two companies in its bid to expand its reach into the SME and cloud market.
The company has purchased software company Tall Emu and cloud document management software provider Nimbus Portal Solutions.
Tall Emu produces business operations software which includes a customer relationship management tool.
The software lets users 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 company said the acquisition complements its capabilities in accounting and compliance, and specialised inventory and industry-specific solutions and offers future development opportunities.
MYOB’s head of SME Emma Fawcett said that the acquisition would bring more effort and focus to solving the problems that plague small business owners.
“We are delighted that we’ll be working with Tall Emu’s highly experienced team to combine our skills and knowledge so we can continue to build great software solutions that solve real business challenges for SMEs.
“As a product that is specifically designed for SMEs, we are excited by the potential for Tall Emu’s software to help our customers save time, improve efficiency and grow revenue – delivering the technology which may previously have seemed out of reach, or cost prohibitive,” said Ms Fawcett.
MYOB added that there would be no immediate changes to operations, but the company flagged a “significant investment” in research and development for Tall Emu.
Tall Emu CEO Mike Nash said, “The acquisition is a magnificent outcome for us. We are incredibly excited by the prospect of learning from the MYOB team and leveraging their decades of experience, market and brand awareness, to unlock the full potential of our software for more businesses.”
In its second acquisition, MYOB purchased Nimbus Portal Solutions to boost its software as a service options.
The software features a secure client portal, customised workflows and collaboration tools for accountants.
MYOB CFO Caroline Rawlinson said that the investment would accelerate the delivery of a cloud solution that had 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.
“We are delighted to be investing in a team who have strong history and expertise in the Australian and New Zealand market and share a passion for improving performance outcomes for accountants and practices.”
Nimbus chief executive John Woodbridge said the acquisition would significantly accelerate delivery of the company’s product and feature enhancements.
“We set out on our business journey with the premise that document management software was
one of the most important and under-appreciated solutions available to any accounting practice.
“Eleven years later, we continue to be thrilled by the feedback we receive from our customers who embraced the move to digitisation, adopted our paperless solution and realised the extraordinary benefits in time, efficiency and security that Nimbus delivers to them and their clients.”