Insightful Accountant was notified late yesterday that Reckon Limited was purchasing SmartVault for an undisclosed amount. Below you will find the text of the announcement that was sent to SmartVault customers by SmartVault CEO and Founder, Eric Pulaski.
What a year! I'm so proud of the work my team has done over this past year to improve the
SmartVault service, deliver new features, and make usability enhancements designed to increase your productivity. And there's more to come in 2016. I hope we've helped to make your lives better at work by freeing you from some of the routine tasks so you can focus on ways to add more value to your business or personal life. That is ultimately why we exist. I am excited to share some news with you about moving our company forward.
In order to strengthen our platform and accelerate our roadmap so that we can continue to design and deliver innovative solutions for customers, we have made the decision to join forces with a market leader in the accounting and small business technology space. SmartVault has just been acquired by Reckon Limited (ASX: RKN), a leading provider of technology solutions for businesses, accountants and bookkeepers, headquartered in Sydney, Australia. This acquisition brings together two companies with complementary product and market strategies – dedicated to providing solutions that increase efficiencies for accountants, bookkeepers and businesses. Together, SmartVault and Reckon can provide deeper and richer capabilities, and accelerate the time it takes us to deliver them to you.
SmartVault will continue to exist and operate as it does today. My management team and I will continue to guide the company's strategy and day to day operations, and remain firmly dedicated to our customers' overall success. Reckon's acquisition model is to acquire leading companies and operate them independently, as wholly owned subsidiaries. SmartVault will continue to operate under its own brand and will maintain its employee base and corporate offices in Houston, Texas. In short – no impact to our customers or our employees.
Those that know me personally know that this decision did not come without a lot of careful thought on my part. I started SmartVault with a vision to make people's lives better at work – and I am committed to not only meeting, but also exceeding your expectations with great products and an even better user experience. So in that spirit, I am convinced that this acquisition and the synergies between Reckon and SmartVault will increase SmartVault's value for our employees and our customers. I'm looking forward to this new chapter in SmartVault's history and to building on the foundation we started 8 years ago – to be the trusted partner to accounting professionals and the businesses they serve.
I sincerely thank you for your support – we would not be here without you. And on behalf of the entire team at SmartVault, we will do everything we can to continue to earn your trust and your business. I look forward to catching up with you in 2016 either virtually or at one of the many industry events we attend.
Until then, wishing each and every one of you a happy and productive start to the New Year.
CEO and Founder