Reckon's strategic investment in cloud technology

Reckon (ASX:RKN) announced a US$4.5 million investment in its subsidiary, nQ Zebraworks. Reckon's contribution is US$3.75 million. This investment aims to enhance cloud technology development, sales, and support for nQ Zebraworks. The initiative supports the company's cloud growth strategy until 2026.

Overview of Reckon's cloud-focused investment

Reckon Limited has made a strategic investment of US$4.5 million in nQ Zebraworks, focusing on cloud growth. With Reckon contributing US$3.75 million, the funding will support technological development and expansion of sales and support functions. The investment is structured through a preference share issue, with contributions from minority shareholders and nQ Zebraworks' executives. Reckon aims to capitalize on market opportunities, particularly with its BillingQ solution, and achieve significant sales growth. The initiative aligns with Reckon's strategy to strengthen its cloud technology offerings and maintain competitive market positioning through 2026.

Leadership insights on Reckon's strategic investment

Reckon Group CEO, Mr. Sam Allert, emphasized confidence in market potential and the importance of continued investment. nQ Zebraworks CEO, Bill Bice, highlighted the excitement and strategic goals for leveraging development efforts.