The individual businesses that form the Group are, prior to the Demerger, owned by Reckon Limited
, an ASX listed technology group which reported revenues of A$97.8 million and an EBITDA of A$35.3 million in its 2016 financial year. Reckon is a specialist provider of accounting and practice management software services that have been used by over 800,000 SMEs. Reckon’s practice management software is used by the majority of the largest accounting practices in Australia and New Zealand.
The acquisitions of Virtual Cabinet in 2012 and SmartVault in 2016 were part of Reckon’s strategic plan to meet the perceived increasing market-led demand for document management service capabilities addressing the SME and ECM markets.
In March 2017, Reckon announced a demerger of its Document Management Services business, which now forms the business of the GetBusy Group. The primary strategic reasons for the Demerger are to: