MYOB was founded in the early 1980s by a team of developers at Teleware, who developed accounting software. Teleware was purchased by Best Software (now part of
Sage) in 1993. Data-Tech Software was the Australian republisher of the MYOB products and, in 1997 entered into an agreement with
Best Software to buy the company (renamed MYOB Inc.) and bought the intellectual property rights to the software. In 1999, Data-Tech changed its name to MYOB Limited and listed on the
Australian Securities Exchange (ASX). In subsequent corporate development, MYOB Limited merged with Solution 6 Holdings in 2004. Though the company was founded in the United States, it ceased operations outside of Australia and New Zealand in 2008. Co-founder Brad Shofer left the company in 2003. In December 2008, Acclivity announced it acquired MYOB US Inc. and its
Macintosh (and PC) development team from MYOB Limited of Australia. Acclivity now drives global development of MYOB's
Mac OS business management products – AccountEdge Basic, AccountEdge Pro and AccountEdge Pro Network Edition. In January 2009, a
private equity consortium led by
Archer Capital completed a takeover bid for MYOB, returning MYOB to private ownership. In August 2011, Archer Capital sold MYOB to
Bain Capital for an undisclosed amount. The acquisition gave Bain Capital a majority stake in MYOB alongside management continued to be shareholders in the company. MYOB Group Limited was readmitted to the official list of the
Australian Securities Exchange in May 2015. In November 2017, MYOB proposed to buy
Reckon's accounting group for $180 million. However, failure to obtain regulatory permission caused the deal to fall apart in May 2018. In April 2018, MYOB sold its rental payment system RentPay to
Rent.com.au for $425,000. In May 2018, MYOB partnered with
Network 10's Shark Tank. MYOB Group Limited was delisted from the ASX in May 2019, after it sold to private equity firm
KKR. ==Products==