
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