The Lockstep team has been on quite a journey over the past 3 years, and the next stage of our journey is arguably the most exciting. I am pleased to share that Lockstep has agreed to become part of Sage, the leader in accounting, financial, HR, and payroll technology for small and mid-sized businesses (SMBs).
Lockstep’s products are highly complementary to Sage’s existing solutions and strategy and will support Sage’s commitment to making business flow by improving the efficiency of accounting processes, saving time, and eliminating human error.
Becoming part of the Sage ecosystem enables Lockstep to increase the investment in our team as well as our product roadmap to accelerate the delivery of our Connected Accounting vision. Under the acquisition, Sage will provide the resources and global reach to fuel Lockstep’s ongoing product development, API expansion, and growing accounting integrations for third parties. I expect the acquisition to close by the end of September.
With this acquisition, Lockstep retains our entire team. We will continue to make our platform open to all accounting and ERP software, proactively building, updating, and modifying integrations. This means that the faces and voices our partners and customers interact with daily will not change. With more resources, we can better serve our partners and customers more thoroughly and quickly.
The Lockstep team will form part of the Sage Digital Network team committed to delivering on Sage’s ambition to become the trusted network for SMBs.
This transaction is an acknowledgment of all that we’ve accomplished together and a strong vote of confidence in our future. I want to thank each one of you for your contribution to this success.
Looking ahead, we will continue building the most connected accounting platform so businesses can focus on what they do best: running their businesses.
I am incredibly proud of our team and all that we’ve accomplished together. The Lockstep leadership team is excited about this next stage of our journey and look forward to continuing to work with all of you as we collectively build the Sage Digital Network.
CEO and Co-founder, Lockstep