Australian accounting software provider Reckon (ASX:RKN) is proud to announce their acquisition of Cashflow Manager and okke software solutions from Money Management Group. The acquisition reinforces Reckon’s commitment to servicing the Australian small business software market and compliments their current solutions portfolio.

• Reckon, a leading Australian owned accounting and payroll software company, used by over 100,000 small businesses has acquired Cashflow Manager and okke accounting software solutions from Money Management Group Pty Ltd.
• Cashflow Manager has over 20,000 clients and 1,000 accounting and bookkeeping partners that use their desktop accounting solutions currently.
• As part of the acquisition, Cashflow Manager customers will continue to use the same software and receive the same great service and support from the team they know and trust.

Reckon CEO Sam Allert commented on the acquisition and the reasons for selecting Cashflow Manager:

“We are excited to welcome over 20,000 new clients and 1,000 accounting and bookkeeping partners into the Reckon family. Money Management Group has run a high-quality and profitable business for many years with Cashflow Manager and more recently okke and has focused on supporting their SME clients and partners. It is an ideal match for us to acquire and bring them into the Reckon Group.”

Reckon has continued to invest heavily in cloud-based solutions and this acquisition provides additional scale to the company’s Business Group as they pursue a strategy of transitioning customers to their superior proprietary cloud products. With Cashflow Manager being a strong cash generating business with a loyal subscriber base, it provides a meaningful contribution to Reckons growth ambitions and strategic direction.

Allert noted “We will continue to support Cashflow Manager customers, as we support all our desktop users, as we work with them over the next few years on the perfect time to upgrade to our cloud-based solution.”