Australian firm MYOB, which provides accounting and tax solutions, has announced the acquisition of Flare HR, the company said in a statement. The latest move follows MYOB’s embedding of Flare’s onboarding and superannuation services into its platform in November 2020.
The announcement also mentioned Flare would continue operating as a standalone business and service its other clients and partners.
MYOB CEO Greg Ellis said, “MYOB’s position in the employee network is already substantial; one in five employed Australians are paid through our software. When you combine this with Flare’s pay and benefits capabilities, we can provide one of the unique people management platforms on the market, offering business owners value in new ways and in less time. Helping SMEs be more competitive and productive is the ultimate goal.”
The HR onboarding firm was founded in 2015 by Jan Pacas, Colin Mierowsky, Daniel Cohen and Saul Kaplan. Former Startmate mentor James Windon joined as Co-Founder in 2017. The purpose of the platform is for businesses to manage payroll, employee onboarding and benefits.
The initial focus post the acquisition would be to integrate Flare’s pay and benefits app with MYOB, which the company said would unlock discounts and wellness, a digital wallet for payroll and novated car leasing.
Flare Co-Founder and Co-Chief Executive James Windon said, “MYOB’s investment in Flare coincided with Australia’s digital skills shortage and that there was high demand for businesses to access comprehensive employee benefits offerings and digitised onboarding experiences.”
He also added that there are fewer unemployed people than there are in jobs and Flare is passionate about creating an exceptional employment experience typically for bigger businesses with great resources.