Australia financial software and service company MYOB has has received a $329 million ($487.2m AUD) takeover offer. Private equity group Archer Capital is offering $1.15 AUD/ share for MYOB, after an offer of $1.90 AUD/ share in January was rejected.

The new takeover offer, made with the support of HarbourVest is conditional on support from the MYOB board and acceptances of 50.1%. The offer will be upped to $1.25 AUD/ share if acceptances reach 90%.

Existing shareholders Guinness Peat Group (16%), Colonial First State Global Asset Management (13%) and Schroders Investment Management (10%) have all indicated support for the takeover offer, but the MYOB board is yet to issue a formal response. Company founder Craig Winkler holds 30% of stock.

MYOB has a presence in seven countries, and MYOB software is sold as FirstEdge and AccountEdge in the United States.