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M&A Deal Summary

Sage Acquires Criterion

On October 6, 2025, Sage acquired internet software and services company Criterion

Acquisition Highlights
  • This is Sage’s 4th transaction in the Internet Software and Services sector.
  • This is Sage’s 14th transaction in the United States.
  • This is Sage’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2025-10-06
Target Criterion
Sector Internet Software and Services
Buyer(s) Sage
Deal Type Add-on Acquisition

Target

Criterion

Norwalk, Connecticut, United States
Criterion offers an HR platform enhanced by ch.ai, its unique AI capability seamlessly adapts to each organisation's specific challenges, delivering a unified, intuitive, and powerful user experience. With a focus on realised ROI, it simplifies complex HR tasks, boosts efficiency, and ensures customer satisfaction. Criterion is based in Norwalk, Connecticut.

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Buyer(S) 1

Buyer

Sage

Newcastle upon Tyne, United Kingdom
Category Company
Founded 1981
Sector Software
Employees10,740
Revenue 2.3B GBP (2024)
DESCRIPTION
Sage office in Reston, Virginia.
Sage office in Reston, Virginia.

Sage provides business management software and services for small and medium-sized businesses. Sage was founded in 1981 and is based in Newcastle upon Tyne, United Kingdom.

DEAL STATS #
Overall 36 of 36
Sector: Internet Software and Services M&A 4 of 4
Type: Add-on Acquisition M&A Deals 30 of 30
State: Connecticut M&A 1 of 1
Country: United States M&A 14 of 14
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-16 Lockstep

Seattle, Washington, United States

Lockstep connects the world’s accounting teams to help them work better together by developing tools and platforms to automate workflows between the accounting systems that are at the heart of all businesses. For developers, the company's API is the easy, modern platform for building fintech applications that work with their customers’ accounting systems. For accounting teams, Its applications automate accounts receivable and account payable workflows improving efficiency and cash flow. Lockstep is based in Seattle, Washington.

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