Software specialist completes £56m swoop for accounting tech firm
The Access Group – which has its UK headquarters in Loughborough and an office in Derby – has acquired Australian-owned Reckon Accountants Group for $100m, or around £56m.
The swoop is the business management software specialist’s tenth acquisition in the Asia Pacific region in three years.
Reckon provides practice software and business management solutions designed specifically for accounting firms.
Kerry Agiasotis, president of The Access Group Asia Pacific, said: “The acquisition of Reckon Accountants Group further reinforces Access’ commitment to the accountant’s industry in Australia and New Zealand, which commenced with the purchase of HandiSoft as part of its acquisition of Sage’s Australia and Asia businesses in 2021. With this being our tenth acquisition in the region in just three years, it shows our strong commitment toward rapidly scaling Access Asia Pacific to best support our customers evolving needs.
“We are bringing together two businesses with a strong track record over more than 30 years delivering end-to-end solutions tailored to the specific needs of accounting firms in ANZ. With The Access Group and Reckon Accountants Groups combined industry experience, capabilities and resources, we are uniquely placed to continue to deliver the breadth and depth of software solutions that accounting firms require to adapt their practices to their clients’ rapidly changing needs.”
Reckon CEO Sam Allert added: “This partnership is good news for our customers, our employees and for the market. The proposed transaction agreement with The Access Group represents a compelling offer, which is also clearly in the best interests of our shareholders. The Board has always maintained that the sum of the company’s parts is worth more than what has been attributed to the whole, and this proposed transaction validates this.”
