Launched in 2020, Lockstep provides applications to automate accounts receivable and accounts payable, as well as the first and only free inbox solution allowing customer and vendor workflow automation in a single application. Lockstep's Platform API also enables third parties to develop financial and accounting applications. Sage intends to support Lockstep's continued development of solutions, expand its developer API, and create new integrations for third parties.
"Over the years it has become abundantly clear that Lockstep and Sage have the same vision for the future of the industry," said Peter Horadan, CEO and co-founder of Lockstep, in a statement. "Since inception, our mission has been to improve and transform the way companies do business with one another. This acquisition will provide Lockstep with the resources and global reach it needs to accelerate the development of connected accounting which is imperative for accountants, finance teams, and the companies they serve."
All 130 Lockstep employees will be retained in the acquisition. Terms of the deal were not disclosed.
