Top 10 Information Technology (IT) Companies in Australia 2015

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1. MYOB Group Limited

MYOB, a company headquartered in Victoria, Australia, is a leading provider of business management solutions.

• Revenue: AUD 287 million

• Market Value: AUD 2070 million

Christopher Lee and a team from Teleware, Inc., who developed accounting software, established MYOB in 1980s. Best Software, Inc. purchased Teleware in 1993. In 1997, Data-Tech Software, the Australian producer of the MYOB products, entered into a mutual agreement with Best Software to purchase the company (renamed MYOB, Inc.) and the intellectual property rights to the software were also sold. Data-Tech Software renamed to MYOB Limited and got listed on the Australian Stock Exchange on July 9, 1999. MYOB Limited went through a successful merger with Solution 6 Holdings in 2004. In August 2011, Archer Capital, a private equity consortium, sold MYOB to Bain Capital. The major acquisition led Bain Capital to hold a majority stake in MYOB alongside existing management who continued to be shareholders of the company. MYOB Group Limited was relisted to the Australian Stock Exchange on 4 May 2015.

MYOB’s present portfolio includes a suite of subscription-based products. It also offers a browser-based accounting product released in August 2010. Since October 2012, MYOB started offering AccountRight Live - the cloud-enabled version of its flagship financial product.

Ranking Criteria

The companies are ranked according to the criteria as described below.

1. 20 top public listed companies in Australia are selected according to minimum revenue (AUD 1 million) and minimum market value (AUD 100 million).

2. These companies are ranked according to Revenue only, and Market Value only i.e. two separate rank lists are prepared.

3. Points were assigned to each company in these two lists depending upon their ranks. For example, in the list sorted according to revenue, rank 1 company, which has highest revenue, is assigned 100 points. Rank 2 company assigned points according to the ratio of its revenue with rank 1 company’s revenue.

[Points assigned to rank 2 company = (Revenue of rank 2 company/ revenue of rank 1 company) * 100]

4. Step 3 is repeated for assigning points to remaining companies and the other list.

5. Points obtained from the two lists are added for each company by giving equal weight to revenue, and market value.

[Weighted Points = Revenue Points * 0.5 + Market Capitalization Points * 0.5]

6. The final top 10 companies’ list was prepared according to total points obtained in step 5.

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