Personal financial management specialist MoneyDesktop has bought a fellow Provo, Utah, company, mobile PFM specialist MoneyReef, the companies said.

MoneyDesktop said the acquisition–at least its second–will accelerate its mobile initiatives. Terms were not disclosed.

"Increasing our clients' loan volume has always been our top priority and PFM adoption and usage is where it all begins. The MoneyReef team had a solid understanding of this and were developing mobile applications where the user experience was designed specifically to move the needle on user adoption and engagement," said MoneyDesktop CEO Ryan Caldwell.

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