MYOB snares NZ payroll firm for $NZ14m

Accounting software firm MYOB has bought New Zealand's Ace Payroll Plus in a deal it says will deepen its relationship with NZ clients.

Accounting software group MYOB is buying a New Zealand payroll solutions company for $NZ14 million ($A13.15 million).

MYOB chief executive Tim Reed said the Ace Payroll Plus business was profitable and would help his company deepen its relationship with NZ customers by allowing it to provide them with both accounting and payroll software.

He said the impact of the acquisition on MYOB's first half earnings would not be material but the deal was expected to bolster average user revenues.