The acquired operation will continue to operate under the SmartVault name, headed by its CEO Eric Pulaski, operating from its headquarters in Houston, Texas. Reckon, publicly traded in Australia, says this continues its strategy of acquiring companies and letting them operate independently.

Reckon's accounting products are marketed in Australia and New Zealand. The software line includes the online Reckon One, recently introduced into the United Kingdom.

Reckon Group CEO Clive Rabie explained the decision, saying, "We are dedicated to accelerating and supporting our cloud-based document management journey and bringing SmartVault into the group represents an important step in this direction."