M&A Deal Summary

MYOB Acquires Reckon - Accountants Practice Management Division

On November 16, 2017, MYOB acquired software company Reckon - Accountants Practice Management Division from Reckon for 180M USD

Acquisition Highlights
  • This is MYOB’s 9th transaction in the Software sector.
  • This is MYOB’s largest (disclosed) transaction.
  • This is MYOB’s 5th transaction in Australia.

M&A Deal Summary
Date 2017-11-16
Target Reckon - Accountants Practice Management Division
Sector Software
Buyer(s) MYOB
Sellers(s) Reckon
Deal Type Divestiture
Deal Value 180M USD

Target

Reckon - Accountants Practice Management Division

North Sydney, Australia
Reckon Ltd. - Accountants Practice Management Division includes three operating businesses (Reckon APS, Reckon Elite, and Reckon Docs) that provide accounting, tax compliance and related software to more than 4,000 large and small accounting practices in Australia and New Zealand.

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Buyer(S) 1

Buyer

MYOB

Cremorne, Australia
Category Company
Founded 1991
Sector Software
DESCRIPTION

MYOB is a provider of business management software in Australia and New Zealand. The company's innovative software and services simplify many parts of a business including accounting, payroll, retail POS, CRM, websites, tax, and more. MYOB was founded in 1991 and is based in Cremorne, Australia.

DEAL STATS #
Overall 12 of 18
Sector (Software) 9 of 14
Type (Divestiture) 1 of 1
Country (Australia) 5 of 11
Year (2017) 2 of 2
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-23 Paycorp

North Sydney, Australia

Paycorp is a high-growth technology business that provides payment services that allow clients to receive and process secure payment transactions. Paycorp acts as a local online Payment Solutions Provider (PSP), providing cutting-edge payment solutions to help organizations become PCI compliant, consolidate payment collection methods and improve efficiencies in managing receivables.

Buy AU$48M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-26 GreatSoft Pty

Sydney, Australia

GreatSoft is a software development company that provides cutting edge cloud-based software solutions. The company offers scalable, integrated cloud-based practice management solutions created to meet the needs of progressive accounting firms, including mid-tier and large firms. GreatSoft’s practice management solutions successfully service over 1,000 customers across 19 territories, including leading accounting and auditing firms in Australia and New Zealand. GreatSoft was formed in 1990 and is based in Sydney, Australia.

Buy -

Seller(S) 1

SELLER

Reckon

North Sydney, Australia
Category Company
Founded 1987
Sector Software
Revenue 53M AUD (2023)
DESCRIPTION

Reckon is a provider of software solutions for accounting and bookkeeping professionals and small to medium sized businesses. Reckon was founded in 1987 and is based in North Sydney, Australia.

DEAL STATS #
Overall 1 of 1
Sector (Software) 1 of 1
Type (Divestiture) 1 of 1
Country (Australia) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-18 SmartVault

Houston, Texas, United States

SmartVault Corp. is a provider of Software as a Service (SaaS) online document management system.

Buy -
Mergr

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