Reckon, the Australian software firm, is all set to sell off its ReckonDocs business. The agreement has been finalized for AU$13 million for the Class Buyer Group. At present, ReckonDocs is a significant part of the company’s account practice management group.
As mentioned by Reckon, after this auction it will use the funds to moderate the company debt that was AU$31.8 million (as of 2020).
In this context, Sam Allert, CEO at Reckon Group explains – “The sale of ReckonDocs, allows us to focus on our core strengths of accounting and payroll for small businesses, and practice management for accountants and lawyers.”