PROVO, Utah – MoneyDesktop, the provider of the popular online personal financial management solution, announced this morning it has acquired MoneyReef, a Provo-based start-up creator of Reimburse, a mobile budgeting service.
Reimburse allows users to manage their expense reports and receipts on their mobile devices.
Four of MoneyReef’s eight-person team will be joining MoneyDesktop’s 71 person team, including two of the three co-founders.
Financial terms of the deal were not disclosed.
It is the second acquisition in the past eight month for MoneyDesktop, which contracts with more than 300 credit unions and banks. Last November it acquired MyJibe, a web-based budgeting, planning, and personal financial management platform.
MoneyDesktop is currently making final adjustments to its iPad application, which it briefly demoed during the FinovateSpring 2012 conference. MoneyDesktop's iPad application is expected to be available in the app store in the third quarter.