Bain, KKR Put in Final Bids for MYOB

Bain Capital and Kohlberg Kravis Roberts & Co. have put in their final bids for Australian software maker MYOB Lt., Reuters reported Monday. The company, which is owned by Archer Capital and HarbourVest Partners, could fetch more than $1 billion. Archer and HarbourVest paid about A$450 million for the company in 2008.

(Reuters) – Bain Capital and Kohlberg Kravis Roberts & Co have placed final bids for Australian software company MYOB Ltd, an asset which could be sold for over A$1 billion ($1 billion), two sources familiar with the matter told Reuters on Monday.

Archer Capital and HarbourVest Partners LLC, which acquired MYOB for around A$450 million in 2008, have hired UBS to advise on the sale, sources previously told Reuters.

MYOB, which makes accountancy software, has an EBITDA of around A$100 million, two sources previously told Reuters.

Bids were placed on Thursday last week, the sources said.

Bain and KKR declined comment. UBS, Archer and HarbourVest did not immediately respond to requests for comment.

The sources were not authorised to talk to the media. (Reporting by Stephen Aldred; Editing by Nick Macfie)