A&O Shearman Advised Sage Software in Acquisition of Criterion

A&O Shearman Advised Sage Software in Acquisition of Criterion

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.

Dario de Martino (M&A Partner), said

“This transaction underscores A&O Shearman’s strength in advising on complex, technology- and software-driven M&A, 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 advising Sage Software was led by Dario de Martino (M&A Partner) and Mara Goodman (Associate, New York), with support from James Heaney (Associate, Boston), and Daphne Ratnarajah and Iqra Anees (Associates, New York).

Employment advice was provided by Brian Jebb (Partner, CEPG), with support from Gina Marini and Katie Cross (Associates, New York). IP advice was provided by Alex Touma (Partner, San Francisco), Natalie Montano Young (Counsel, New York), and associates Eva Wang (Silicon Valley), Olivia Zinzi, and Becca Scher (New York). Data privacy advice was provided by Anna Rudawski (Partner, Cyber Risk and Data Security, New York), with support from Bertrand Nzabandora (Associate, San Francisco) and Kirk Lancaster (Associate, Washington, D.C.).

Regulatory advice was provided by Matt Townsend (Partner, Environmental and Sanctions, London) and Maura Rezendes (Partner, London), counsel Kuang Chiang (Washington, D.C.), and Ming Zee Tee (Associate, London). Finance advice was provided by Gordon Mak (Partner, Debt Finance, New York) and Christina Simpson (Associate, Toronto), while tax advice was provided by John Hibbard (Partner, Tax, New York) and Ryan Sedwick (Associate, New York).

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