Saasu's shareholders decided it was time to exit and allow Saasu to grow and develop under the guidance of another great Australian business with closely aligned values.
"We are pleased to have found the right home for Saasu," said Saasu founder and CEO Marc Lehmann.
"Our primary concern was continuity of service for our customers, full staff retention and accelerated development of Saasu capabilities. We also wanted an Australian owner as we strongly believe that local knowledge serves our customers interests best. We are so happy to have found that in our acquirer."
"We are also very excited having seen a sneak peak at the future of Saasu in the hands of Owna."
He added "We are so grateful for our customers' incredible loyalty and trust over the years."
Owna sees the business as complementary to its childcare centre services customer base, and will also benefit from having a larger engineering team to work on its accounting and workplace.
Lehmann will remain with the business, initially to ensure continuity of service for Saasu customers and later in an advisory capacity.
Owna founder and CEO Kheang Ly said "Last year, we released our workforce management platform Workr. Our goal was to build out this software to include everything a small business owner needs to run their organisation.
"Having added features across staff communication, asset management, project management and HR, we knew that development in these areas would only take us so far, and we always had a longer-term vision of adding an accounting arm to the platform to act as the cornerstone. And that's where Saasu came in."
"I personally have had a long relationship with Marc and came to know just how valued the Saasu platform was to its customers.
"We are super excited to be able to further the development of Saasu with our Workr platform and offer this to existing customers as well as further innovating the product to be a complete solution that we have dubbed 'accounting with everything'"
The terms of the transaction have not been disclosed.