SmartVault has announced that it has been acquired by Reckon Limited, an Australia-based provider of small business accounting and management systems, both in the cloud, and desktop-based. SmartVault offers online document storage and sharing solutions for small businesses and QuickBooks users.
Under the agreement, SmartVault will continue operating as a separate business unit with the same brand, employee base and Houston offices, and will retain its U.S. management team, led by founder Eric Pulaski. Financial details of the acquisition were not disclosed.
“This acquisition brings together two companies with complementary product and market strategies – dedicated to providing solutions that increase efficiencies for accountants, bookkeepers and businesses,” said Dania Buchanan, chief marketing officer for SmartVault. “Together, SmartVault and Reckon can provide deeper and richer document management capabilities, and accelerate the time it takes us to deliver them to the market.”
The acquisition of SmartVault is part of Reckon’s strategy to expand its document management offering globally. The company acquired U.K.-based enterprise document management provider Lindenhouse in 2013, followed by the U.S.-based document routing system nQeueu.
“There is no change to our product strategy or go to market strategy, and we remain firmly committed to our product roadmap, API support, and usability enhancements planned for this year,” Buchanan added.
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