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Australia's Reckon sells accounting practice software arm for $136.6 mln
November 15, 2017 / 10:01 PM / a month ago

Australia's Reckon sells accounting practice software arm for $136.6 mln

Nov 16 (Reuters) - Australian accounting software provider Reckon Ltd said on Thursday it would sell its accounting practice management software business to MYOB Group for A$180 million ($136.57 million) in an all-cash deal.

Reckon said in a statement it intended to use the proceeds from the deal to repay “the majority of its debt” and pay a special dividend to shareholders. ($1 = 1.3180 Australian dollars) (Reporting by Chandini Monnappa in Bengaluru, Editing by William Maclean)

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