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ACCC clears path for MYOB's GreatSoft acquisition

By
Kate Weber
on Apr 16, 2021 1:08PM
After initial fears buyout could hinder competition.
The Australian Competition and Consumer Commission (ACCC) won’t oppose MYOB’s acquisition of accounting software GreatSoft, finding it won't weaken market competition.
Under the purchase, MYOB plans to combine its desktop practice management software with GreatSoft’s a cloud-based accounting solution.
GreatSoft provides a single cloud-based practice management module that integrates with third-party software suppliers for other accounting modules, including Xero for Xero Tax.
The ACCC was originally concerned the acquisition would significantly reduce market competition, leaving only three major suppliers of practice management software for medium-to-large customers.

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