• Reckon acquires Cashflow Manager and OKKE accounting software businesses
• Cashflow Manager has 20,000 customers and 1,000 accounting/bookkeeping advisers
• Acquisition is EPS accretive and expected to contribute $6M revenue, $3M EBITDA, $1M NPAT in FY2025

Reckon Limited ('Reckon') has entered into an agreement with Money Management Group Pty Ltd and its UK subsidiary to purchase Cashflow Manager and OKKE, Adelaide-based accounting and payroll software businesses. Cashflow Manager's flagship product is its namesake desktop software solution, while OKKE is a start-up SaaS accounting product. Reckon will acquire complete ownership of both products. The total purchase price is $8.75M, with $7.5M to be paid in 2025 and $1.25M deferred until early 2026. The acquisition will be funded through Reckon's existing bank facilities. Reckon anticipates the acquisition will complete in early January 2025. The acquisition is expected to be EPS accretive and contribute $6M of revenue, $3M of EBITDA and $1M of NPAT in FY2025. Reckon Group CEO, Mr Sam Allert, stated that the company is excited to welcome over 20,000 new clients and 1,000 accounting and bookkeeping advisers into the Reckon family. Cashflow Manager has run a high-quality and profitable business for many years and has focused on supporting their SME clients and advisers, making it an ideal match for Reckon. The acquisition provides additional scale to Reckon's Business Group as the company continues to invest heavily in cloud-based solutions and transition customers to its proprietary cloud products.

The acquisition is expected to contribute $6M of revenue, $3M of EBITDA and $1M of NPAT in FY2025.

Reckon will continue to support Cashflow Manager customers, while working with them over the next few years on the transition to Reckon's cloud-based solutions.