Lockstep makes cloud native technology we presume for cloud natives. The software automates accounting workflows between companies.
As part of the transaction, Lockstep’s management team will join Sage to help drive the development of its digital network.
Sage said the acquisition is aligned with its ambition to be the trusted network for SMBs.
“The acquisition of Lockstep accelerates Sage’s strategy for growth by broadening its value proposition for SMBs and by expanding Sage’s digital network”, the company said in a statement.
Lockstep’s applications for account receivable automation gives CFOs more capabilities, while its API platform expands the egosystem by enabling third parties to develop connected services, it said.
The acquisition is expected to close by the end of September.