Robert Ambrogi Blog
AffiniPay, the parent company of law practice management company MyCase, has sold off the legal accounting software Soluno to another law practice management company, Actionstep, in what the New Zealand-based Actionstep says is an important milestone for its expansion into the U.S. and Canadian markets.
MyCase acquired the cloud-based Soluno in 2021, saying at the time that it would leverage Soluno’s expertise to develop full-featured accounting natively within the MyCase platform. When AffiniPay, the parent company of LawPay, acquired MyCase in June 2022, Soluno was part of the deal.
Soon after, in August 2022, MyCase introduced its own native accounting functionality.
Meanwhile, Actionstep, a practice management company founded in New Zealand in 2004 that primarily serves mid-sized law firms, has been expanding its market in the U.S.
It now has roughly 1,000 customers in the U.S. and some 15,000 individual subscribers across North America. Last year, it opened a U.S. headquarters in Denver where its CEO, Early Stephens, who succeeded founder Ted Jordan last year, is based.
Its acquisition of Soluno, it said, “brings together 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 said that it intends to integrate the two products in order to create a unified platform for midsized law firms that combines Actionstep’s practice management software and Soluno’s accounting software.
Customers can also continue to access Actionstep and Soluno as standalone products, it said.
“This is an important milestone for Actionstep in the U.S. and Canada,” said Actionstep CEO Stephens. “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.”
Soluno cofounder and CEO Alan Tuback said that he could not imagine a better home for his software than Actionstep. “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.”
Last month, Actionstep acquired Australian practice management company FilePro and its 4,000 customers in Australia. In 2022, Actionstep acquired the Australian practice management company LawMaster.
While those earlier acquisitions are targeted at Actionstep’s expansion in the Australian market, the acquisition of Soluno is squarely targeted at the North American market.