Digital banking and payments provider Novatti (ASX:NOV)
, has completed the acquisition of a 19.9 per cent interest in the software company Reckon Limited. Novatti enables businesses to pay and be paid from any device, anywhere from corner stores and startups to global organisations. The company has extensive experience in delivering unique and innovative solutions that focus on improving business transactions.
Reckon is an Australian software company that provides desktop and cloud-based accounting software for accountants, bookkeepers, small to medium businesses, and personal users. The company holds a strong cash flow generation and has historically paid sustainable dividends to its shareholders.
The acquisition of Reckon will allow Novatti to continue solving problems and creating new opportunities in the fintech space across diverse industry sectors.
Managing director of Novatti, Peter Cook, said: “Novatti is pleased to have successfully completed its acquisition of a strategic stake in Reckon. As a payments company, and in particular, leveraging our experience with Emersion, we know there is a tight synergy between business automation software and payments processing. We believe this investment in Reckon will open up new opportunities to explore synergies and deliver growth for both the Reckon and Novatti businesses.”
Shares in Novatti (ASX:NOV)
are trading 1.4 per cent higher at $0.51.