Actionstep – the global cloud practice management platform for midsize law firms – recently announced the acquisition of Toronto-based legal accounting software company Soluno from professional services payments company AffiniPay. This acquisition combines two complementary category-leading software products with exceptional legal practice management and legal accounting capabilities to best serve the needs of modern, midsize law firms across the U.S. and Canada.
Actionstep plans to integrate the two products and ultimately create a unified platform for midsize law firms by combining the powerful capabilities of Actionstep’s practice management software and Soluno’s best-in-class accounting software. And this will enable Actionstep to open up a range of solutions for customers based on their specific practice management requirements. Customers can also continue to access Actionstep and Soluno as standalone products.
Actionstep plans to expand its boutique and mixed-practice law firm customer base internationally with its highly adaptable, comprehensive legal practice management platform. And since September 2020, when Actionstep announced an investment from growth-oriented private equity firm Serent Capital, the company nearly tripled its headcount through organic growth and acquisition and invested in numerous key product developments. The combined company now serves 35,000 subscribers globally, including 15,000 in North America.
This announcement comes shortly after Actionstep’s acquisition of Australian legal practice management software companies FilePro on September 1, 2023, and LawMaster in September 2022.
KEY QUOTES:
“This is an important milestone for Actionstep in the U.S. and Canada. As Actionstep continues to innovate and refine our technology for the legal midmarket, the addition of Soluno brings advanced legal accounting capabilities to our already comprehensive practice management offering.”
“We are excited to welcome the Soluno team to the Actionstep family and look forward to incorporating their decades of legal accounting know-how into Actionstep’s global business. Our immediate focus is on ensuring customers’ stability and happiness, and we look forward to sharing details in the near future as we develop exciting market offerings.”
- Early Stephens, Global CEO of Actionstep
“I can’t imagine a better home than Actionstep for Soluno’s customers and team. Actionstep’s vision for modernizing midsize firms with innovative, adaptable practice management technology is completely aligned with Soluno’s ethos. Our first priority is to ensure Soluno customers know they will continue to be well taken care of by our team now and in future.”
- Alan Tuback, CEO of Soluno
“AffiniPay remains focused on providing market-leading financial services and practice management to the legal industry and is committed to continuing payments partnerships with mid-market and enterprise level partners.” Armstrong continued, “It was super important for us to find a good home for Soluno. In partnership with Actionstep, Soluno will have an opportunity to have a bigger mid-market impact in the U.S. and Canada. We are excited to continue our strategic partnerships with both Actionstep and Soluno.”
- Dru Armstrong, CEO of AffiniPay
