From Under the radar I like the last part about interest from...

From
Under the radar
I like the last part about interest from other parties. At these levels PE will definitely be looking

Reckon's profit result was reassuring to those who have bought and held on our recommendations, but does not quell the disappointment of the failed sale of the Accountant Practice Management business. Subscribers will recall that an agreement was made to sell that business to MYOB for $180m, an attractive double-digit multiple of EBITDA. Unfortunately though, Australia’s competition authority, the ACCC, rejected the merger.
The company's new CEO, Sam Allert, maintains an upbeat tone, but total revenue was down 5% to just under $40m, although subscription revenue was up marginally at $31m. Overheads were down by 11% on a continuing business basis, leading to a 6% increase in underlying EBITDA to $17.3m, after central costs of $1.8m. These numbers exclude the transaction costs associated with the failed MYOB transaction. Pleasingly, debt was cut by $7m.
As expected, there was some weakness in the operations, as clients delayed making upgrade or renewal decisions while there was uncertainty over ownership. After the abandoned MYOB bid, the Accountant business (HY18 EBITDA $10.0m, up 3%) has attracted interest from other parties.
*FY18 Forecast
**Adjusted for GetBusy spin off