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Reckon advised on proposed multimillion-dollar sale
Global law firm Herbert Smith Freehills has advised Reckon Limited on the proposed sales of its Accountants Practice Management Group.
Emma Musgrave
Firms: Herbert Smith Freehills (Reckon Limited); Undisclosed (The Access Group)
Value: $100 million
Area: M&A
Key players: The Herbert Smith Freehills team was led by partner Nicole Pedler and was comprised of lawyers from across the firm’s M&A, IT, IP, employment, and competition practice groups, based in the Sydney office.
This included corporate solicitors Hudson Archer and Raul Vellani, IT partner Kwok Tang and senior associate George Psaltis, IP special counsel Amalia Stone, employment partner Michael Gonski and senior associate Rommo Pandit, and competition partner Patrick Gay and solicitor Emily Whitaker.
Deal significance: Reckon is described as a leading provider of desktop and cloud-based accounting software for accountants, bookkeepers, small to medium businesses, and personal users.
Reckon’s sale of its Accountants Practice Management Group to The Access Group is subject to FIRB and ACCC approval.
Commenting on the deal, Herbert Smith Freehills partner Nicole Pedler said: “We are delighted to have supported Reckon on this transaction, which will enable Reckon to return funds to shareholders, pay down debt and invest in growth initiatives for its cloud product set.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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