Tuesday, 19 January 2016 01:21

Reckon buys US online docs company SmartVault Featured

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Listed Australian cloud accounting company Reckon (ASX:RKN) has expanded its market offerings with the acquisition of US Software as a Service (SAAS) online document management company SmartVault  Corporation.

Reckon Group CEO Clive Rabie said investing in market leading document management and portal solutions is a key growth strategy for the Reckon Group.

Rabie says SmartVault will compliment Reckon’s Virtual Cabinet product, which offers an enterprise level document management and portal solution to businesses and accountants. 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.

The deal will see SmartVault 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.

According to Rabie, the deal continues Reckon’s acquisition model of acquiring leading companies and operating them independently, as wholly owned subsidiaries. He said the document management and portal market has seen considerable growth in recent years.

“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,” Rabie said.

“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.”

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.”

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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