MYOB has purchased the minority stake in Kounta for an undisclosed sum.
Following the investment, MYOB said the firms will launch an integrated online solution for MYOB clients that combines accounting and POS before the end of the year.
This solution will integrate with MYOB’s popular cloud accounting solutions MYOB Essentials and MYOB AccountRight.
MYOB general manager, connected services, Andrew Birch said the investment is a strategic move to solidify the accounting software provider’s position in the retail POS, mobile payments and e-commerce spaces.
“We’re very pleased to announce our partnership with Kounta, a successful start-up renowned for its flexible and scalable online POS solutions,” he said.
“Typical POS systems are made up of a mix of both hardware and software from different vendors. This will be a total solution from MYOB and fully integrated to eliminate compatibility and syncing risk between systems.
“Seamless integration ensures the data is reliable, accurate and up to date, since a client can work from and maintain its customer and stock information all in one place and in real time,” said Mr Birch.
The partnership is integral to the MYOB vision of making cloud accounting easy for every business, added Mr Birch.
Kounta founder Nick Cloete said Kounta has worked hard to re-imagine the way retailers do things at point of sale and he is pleased to see such established and innovative companies like MYOB validating, investing in and supporting this new approach.
“Kounta remains committed to an open platform and will continue to design and develop intuitive point of sale solutions with the ability to extend functionality through integration partnerships with all other leading online and mobile services like accounting, payments, loyalty, inventory, e-commerce and more,” said Mr Cloete.