Reckon Limited, trading as Quicken Australia, has scooped the Australian, New Zealand and UK operations of Advanced Professional Solutions (APS).
Under the $10 million APS acquisition, Reckon can peddle practice management, tax and professional client accounting software products to top accounting firms, which APS designs, develops and licenses.
Reckon specialises in accounting software geared at small to medium-sized enterprises.
The market is pegged to be worth more than $120 million in revenue from software licensing and maintenance.
According to Reckon, APS provides product to more than 50 per cent of Australia’s top accounting practices, 60 per cent of New Zealand’s top 30 firms and more than 10 per cent of the UK’s top 100 firms.
With APS on board, Reckon gets access to a software product that would vertically integrate with the Quicken product, benefit from a high level of recurring revenue through maintenance arrangements, and gain enhanced operating scale and product range, the company said.