Reckon Plans to Sell Off ReckonDocs to Support Cloud Strategy

Reckon Plans to Sell Off ReckonDocs to Support Cloud Strategy

Reckon, the Australian software firm, has recently announced it is all set to sell off the ReckonDocs business. The deal has been finalized for AU$13 million for the Class Buyer Group. Currently, ReckonDocs is a significant part of the company’s account practice management group.

According to Reckon, after this sale, it will use the funds to moderate their company debt that was AU$31.8 million (as of December 31, 2020).

According to 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.”

Source: ZDNet

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