MYOB ready to float

The cloud-based accounting software market is growing rapidly, but MYOB's upcoming float isn't without controversy. In February 2009, private equity firm Archer Capital acquired then publicly-listed MYOB for $550m. After a round of improvements, the maker of accounting software was then sold in 2011 for $1.2bn to a new private equity owner, Bain Capital. Now, coming full circle, Bain wants to float MYOB for twice what it paid – a market cap of $1.9bn to $2.3bn – claiming it’s a more streamlined company with significantly improved prospects. Is such a rapid turnaround really possible? Read the full article (VIEW LINK)