MYOB Strengthens Online Presence

Business management software provider MYOB has taken a 50.1 percent stake in
software and online application development company Recall Design.

Under the deal, MYOB aims to use the Internet to deliver cost savings
and efficiencies to MYOB and its customers, with a view to a longer term
opportunity through service delivery online.

“This acquisition will also provide a platform to enable our customers
to build better businesses by providing access to MYOB services 24 hours a
day, seven days a week,” said MYOB’s chief executive officer, Craig
Winkler. “The investment in Recall Design will allow MYOB to further our
Internet strategy.”

The majority of MYOB’s investment will come in the form of a direct
injection of equity into Recall Design, enabling the company to recruit,
invest in infrastructure and expand its business model.

Recall Design recently worked with MYOB to allow open access to MYOB’s
customer database via the Internet, enabling customers to register their
software and update details at any time.