Reckon sells accounting division for $100m
Summary
“For our APS and Reckon Elite customers, we are thrilled to bring them the deep specialisation that Access boasts within the practice management market, and offer an extended portfolio of solutions that will deliver added value to our customers and theirs.” The president of Access Group in the region, Kerry Agiasotis, said: “We are bringing together two businesses with a strong track record over more than 30 years of delivering end-to-end solutions tailored to the specific needs of accounting firms in ANZ. “The combination of our expanded tax and practice management portfolio coupled with cloud technologies and the Access Workspace platform, come together to create an exciting set of new possibilities for our accounting customers.” The Access Group’s expansion into the Asia Pacific began with the purchase of HandiSoft as part of its acquisition of Sage’s Australia and Asia businesses in 2021. It has since acquired Attaché, Unleashed, Joyful, Volcanic and Asian businesses, Definitiv, EziTracker, FastTrack360 and Vincere and now employs 900 in the region from a global workforce of 5,000. Reckon, which began three decades ago and listed on the ASX in 1999, would be able to focus on its business and legal operations once the sale was complete, said Mr Allert. “Reckon will be in a much stronger position to unlock further shareholder value through the growth and development of the remaining Business and Legal Groups not captured in this agreement,” he said.
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