Reckon acquires SmartVault Corporation (USA)

Reckon Limited (ASX: RKN) announced today the acquisition of SmartVault, a leading Software as a Service (SaaS) online document management system in the United States.

SmartVault customers can store all of their business documents online and securely share those files with the right people over the web, or from their mobile device or tablet.

Investing in market leading document management and portal solutions is a key growth strategy for the Reckon Group. SmartVault will compliment Reckon’s Virtual Cabinet® product, which offers an enterprise level document management and portal solution to businesses and accountants. The document management and portal market has seen considerable growth in recent years.

SmartVault will continue to operate under its own brand, led by CEO and Founder Eric Pulaski and will maintain its employee base and head office in Houston, Texas. This continues Reckon’s acquisition model of acquiring leading companies and operating them independently, as wholly owned subsidiaries.

SmartVault Founder and CEO, Eric Pulaski, said: “I am convinced that this acquisition and the synergies between Reckon and SmartVault will increase SmartVault’s value for our customers and our employees. I’m looking forward to this new chapter in SmartVault’s history and to building on the foundation we started 8 years ago – to be the trusted partner to accounting professionals and the businesses they serve.”

Cilve Rabie, Reckon Group CEO said: “We are dedicated to accelerating and supporting our cloud based document management journey and bringing SmartVault into the group represents an important step in this direction. We have been very impressed with the quality of SmartVault’s offering and the productivity gains they are delivering to small businesses and accountants. We look forward to welcoming Eric and his team into the Reckon family.”