Australian Company Won't Renew Intuit Deal

Friday, 23 March 2012
News

Clive Rabie, ReckonAustralian software vendor Reckon says that it will not renew an agreement under which it has been selling Quicken and QuickBooks down under since 2010. The agreement expires on February 14, 2014. After that, Reckon can continue developing products based on Intuit technology, but cannot sell them under the Intuit brand, the company said in a filing with the Australian Stock Exchange. Reckon says it will save about $6.2 million annually in royalty payments.

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