M&A Deal Summary

Actionstep Acquires Soluno

On September 22, 2023, Actionstep acquired internet software and services company Soluno from 8am

Acquisition Highlights
  • This is Actionstep’s 1st transaction in the Internet Software and Services sector.
  • This is Actionstep’s 1st transaction in Canada.
  • This is Actionstep’s 1st transaction in Ontario.

M&A Deal Summary

Date 2023-09-22
Target Soluno
Sector Internet Software and Services
Buyer(s) Actionstep
Sellers(s) 8am
Deal Type Divestiture

Target

Soluno

Mississauga, Ontario, Canada
Soluno is a cloud-based legal software that specializes in accounting, billing, trust, time/expense entry, and matter management. Soluno is based in Mississauga, Ontario.

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Buyer(S) 1

Buyer

Actionstep

Denver, Colorado, United States

Category Company
Founded 2004
Sector Internet Software and Services
DESCRIPTION

Actionstep is a cloud-based legal practice management system that helps small and mid-sized law firms across all practice areas drive improved efficiency in case and administrative work. By bringing together client relationship management, matter management, billing & trust accounting, document automation & storage, time tracking, and reporting in one software solution, Actionstep helps transform law practices into more efficient businesses. Actionstep was founded in 2004 and is based in Denver, Colorado.


DEAL STATS #
Overall 3 of 3
Sector: Internet Software and Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Ontario M&A 1 of 1
Country: Canada M&A 1 of 1
Year: 2023 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-31 FilePro

Canning Vale, Australia

FilePro is a developor of legal practice management software. FilePro is an all-in-one PMS with matter management at its core and includes time capture and billing, trust and general ledger accounting, document assemble, storage and management with workflow, tasks and CRM. FilePro was founded in 1989 and is based in Canning Vale, Australia.

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Seller(S) 1

SELLER

8am

Austin, Texas, United States

Category Company
Founded 2005
Sector Internet Software and Services
DESCRIPTION

8am is a cloud-based provider of practice management software, integrated payments and embedded fintech solutions for small and midsize businesses. 8am was founded in 2005 and is based in Austin, Texas.


DEAL STATS #
Overall 1 of 1
Sector: Internet Software and Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Ontario M&A 1 of 1
Country: Canada M&A 1 of 1
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-09 MyCase

San Diego, California, United States

MyCase is an all-in-one legal practice management software designed for a modern law firm. The company covers the entire client lifecycle with Lead Management, Case Management, Billing and Invoicing, and Robust Reporting. It includes market-leading features such as integrated MyCase Payments, 2-way text messaging, MyCase Client Portal to centralize client communication, and MyCase Drive. The MyCase family of brands includes the broadest suite of legal practice management software solutions in the industry including MyCase, CASEpeer (Personal Injury), Soluno (Billing & Accounting), DocketWise (Immigration), and Woodpecker (Document Automation). MyCase was founded in 2010 and is based in San Diego, California.

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