February 22, 2017 / 10:30 PM / 7 months ago

BRIEF-Myob to acquire Paycorp

Feb 23 (Reuters) - Myob Group Ltd

* MYOB to acquire Paycorp

* Entered in to a sale and purchase agreement to acquire 100 PCT of Paycorp Payment Solutions PTY Limited

* Deal for a total consideration of $48 million

* Transaction is expected to complete on 1 April 2017, subject to satisfying certain conditions, and will be immediately EPS accretive

* Acquisition will be funded from company’s existing cash reserves and is expected to complete by 1 April 2017

* Acquisition will also strengthen margins for existing MYOB connected services Source text for Eikon: Further company coverage:

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