Norwegian software house has acquired the UK business division of MYOB in the wake of the Australian company's disposal of its Accountants Division to Wolters Kluwer/CCH last month.
Mamut will give MYOB a 1.7m cash payment in two instalments to launch itself into the number three spot in the UK market for small business accounting software.
According to Mamut, MYOBs UK Business Division turned over 1.8m in 2007 and has a total of 50,000 customers, 20,000 of whom use MYOB's accounting and payroll software. The deal also includes the DOSH brand name and product range. Mamut will continue to sell and support DOSH products.
Mamut chief executive officer Eilert Hanoa called the MYOB UK acquisition an "important building block" in the run up to the launch of its Mamut One "software...