MYOB exits UK and Ireland markets
Business software provider MYOB has sold the last of its UK and Ireland business divisions, leaving it free to focus on its leadership positions in Australia and New Zealand, as well as on growth opportunities in Asia.
MYOB yesterday signed an agreement to sell its UK business division to Mamut ASA for a cash payment of £1.7 million.
The division, which generated 10 per cent of MYOB’s UK and Ireland revenue, had not been operating profitably in recent years, according to chief executive Craig Winkler.
Earlier this month, MYOB divested the other 90 per cent of its UK and Ireland divisions to Wolters Kluwer for £35.5 million.
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