DH Capital Advises SmartVault on Sale to Reckon
NEW YORK, NY, February 10, 2016 – (Marketwired) DH Capital, LLC (“DH Capital”), an investment banking firm serving companies in the Internet Infrastructure, communications, and SaaS sectors, announced today that it served as exclusive financial advisor to SmartVault Corp. (“SmartVault”) on its recent sale to Reckon Limited (“Reckon”). Investing in market leading document management and portal solutions is a key growth strategy for the Reckon Group and SmartVault will compliment Reckon’s Virtual Cabinet® product, which offers an enterprise level document management and portal solution to businesses and accountants. The document management and portal market has seen considerable growth in recent years.
“I am convinced that this acquisition and the synergies between Reckon and SmartVault will increase SmartVault’s value for our customers and our employees. I’m looking forward to this new chapter in SmartVault’s history and to building on the foundation we started 8 years ago — to be the trusted partner to accounting professionals and the businesses they serve,” said Eric Pulaski, Founder and CEO of SmartVault.
“SmartVault has built a market leading document management and portal solutions platform that will compliment Reckon’s strategic initiatives. We are pleased to have assisted SmartVault in this transaction,” said Dean Mann, Partner of DH Capital. “With this strategic acquisition, Reckon expands into the US market and enhances its position in the marketplace.”
DH Capital has long served as a trusted advisor and maintains the largest dedicated team of professionals covering the internet infrastructure, communications, and SaaS sectors. DH Capital has advised companies on over 130 transactions with combined value in excess of $13.2 billion.
Mayer Brown, LLP served as SmartVault’s legal advisor.
SmartVault is a leading provider of Software-as-a-Service online document management and secure client portal solutions. With a heavy focus in the accounting and financial services vertical markets, SmartVault is used by over 7,000 CPAs and accountants to share files with over 100,000 clients.
About DH Capital
DH Capital is a private investment banking partnership serving companies in the Internet infrastructure, communications, and SaaS sectors. Headquartered in New York City with an office in Boulder, Colorado, the firm’s principals have extensive experience and proven abilities in capital formation, finance, research, business development, and operations. DH Capital provides a full range of advisory services to companies and financial institutions, including mergers and acquisitions, private capital placements, financial restructuring, and operational consulting. DH Capital has completed more than 130 M&A transactions and private capital placements totaling more than $13.2 billion in value.
Reckon Limited (RKN) is an Australian publicly listed company well known as a leading provider of software solutions for accounting and bookkeeping professionals, as well as small to medium sized businesses, small office/home office users and personal wealth management sectors in Australia and New Zealand.