Reckon and MYOB have long been business rivals so I was quite surprised to see the announcement today that MYOB has purchased Reckon’s Accountant Group for $180M.
MYOB and Reckon both have multiple businesses catering to different types of customers. One such business is practice management software for accountants. I imagine that this purchase will allow MYOB to be more competitive against Xero’s Practice Management software.
Reckon have stated that they will continue to focus on their small business customers, they have invested heavily in their web-based Reckon One product, as well as continued investment in Reckon Accounts Hosted and Desktop. All competitive products in the SME business accounting software space.
MYOB also continue to invest heavily in their web-based MYOB Essentials product, as well as offering their MYOB AccountRight range of products, again both created for SME businesses.
So does this new acquisition mean anything for us as users of their products within the SME space? Not really. It will be business as usual with both MYOB and Reckon continuing, along with Xero, to be competitors.
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