Bain to purchase software firm MYOB for USD1.3bn - Rumour

Mon Aug 22 2011, 10:39 AM

Equity firm Bain Capital is purchasing Australian software firm MYOB for around AUD1.2bn (USD1.3bn) after rival bidder Sage dropped out at the last minute, according to Reuters sources, although the deal has not been formally announced. This will be Bain's third largest acquisition as it takes control of the firm from current owners Archer Caital and HarbourVest, who bought the MYOB in 2008 for an estimated USD450m.

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