Wolters Kluwer Law & Business is to acquire the accountant arm of software provider MYOB in a £35m deal that it believes will create 'a significant new force' in the UK market.
Wolters Kluwer is to integrate the MYOB division with the software division of its CCH business. The company believes the market is 'demanding integrated software to increase efficiency and reduce costs'.
The sale of MYOB comes just days after it secured its largest ever practice deal with a contract to supply the MYOB Viztopia software to Tenon.
Cathy Wolfe, CEO of Wolters Kluwer UK, which is better known for its interests in publishing interests, said the MYOB takeover would help the business 'to accelerate its growth in the provision of professional practice software'.
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