A&O Shearman advised Sage Software, Inc., a subsidiary of The Sage Group plc, in connection with its acquisition of Criterion Inc., a software services company based in Norwalk, Connecticut, focused on core HR, payroll, and talent engagement solutions for mid-market businesses in the U.S., Canada and the UK.
Sage is a global provider of accounting and enterprise resource planning software serving customers predominantly in the U.S. and Europe. The transaction was signed and closed on October 2, 2025. See the parties’ press release for further details.
“This transaction underscores A&O Shearman’s strength in advising on complex, technology- and software-driven M&A,” said M&A partner Dario de Martino. “Our cross-border, multi-office team delivered the precision, pace, and strategic clarity a deal of this complexity demands. Together, we’ve helped lay the foundation for a unified, AI-powered HR platform that positions Sage to lead the next generation of workplace technology.”
The A&O Shearman team that advised Sage Software was led by M&A partner Dario de Martino and associate Mara Goodman in New York, with support from associates James Heaney in Boston, and Daphne Ratnarajah and Iqra Anees in New York.
Employment advice was provided by compensation, employment, pensions and governance (CEPG) partner Brian Jebb and associates Gina Marini and Katie Cross in New York. IP advice was provided by M&A partner Alex Touma in San Francisco, M&A counsel Natalie Montano Young in New York, and associates Eva Wang in Silicon Valley, and Olivia Zinzi, and Becca Scher in New York. Data privacy advice was provided by cyber risk and data security partner Anna Rudawski in New York, and associates Bertrand Nzabandora in San Francisco and Kirk Lancaster in Washington D.C.
Regulatory advice was provided by environmental and sanctions partners Matt Townsend in London and Maura Rezendes, as well as counsel Kuang Chiang in Washington, D.C., and associate Ming Zee Tee in London. Finance advice was provided by debt finance partner Gordon Mak in New York and associate Christina Simpson in Toronto, while tax advice was provided by tax partner John Hibbard and associate Ryan Sedwick, both of New York.