MYOB to buy a slice of Reckon for $180m

By James Harkness · 16 November 2017 · Locked

MYOB to buy a slice of Reckon for $180m

MYOB Makes a Major Move

Australian accounting giant MYOB is set to acquire a significant division from Reckon in a deal worth $180 million. But what does this mean for the future of cloud accounting in Australia?

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Summary

Cloud accounting provider Reckon is selling a 120-person division to rival MYOB for $180 million as it looks to – in the words of Group CEO Clive Rabie – “narrow [its] focus on the small business accounting software market”. Subject to regulatory approval by the ACCC and the NZCC, MYOB will acquire the assets of […]

Tags: Accounting, Clive Rabie, Cloud, MYOB, Reckon, revenue, Sale, Sme