LeaseQuery Acquires SaaS Spend Management Platform Stackshine

LeaseQuery, a provider of software built to empower accounting and finance teams by simplifying the complex, has acquired Stackshine, a SaaS spend management platform designed to help companies track and optimize their software spend and usage. With this acquisition, LeaseQuery extends a period of growth and tackles an increasingly crucial issue for organizations – SaaS operations and spend management, a mounting challenge for both IT and Finance.

As SaaS spending continues to grow by 15-20% annually for businesses of all sizes, the acquisition of Stackshine will significantly expand LeaseQuery’s offerings. The average company spends more than $343,000 annually on SaaS subscriptions, making it the largest cost other than payroll and real estate. Organizations that lack centralized visibility can struggle to budget accurately for and control their SaaS spend, leading to at least 25% overspend through 2027 due to excess licenses or overlapping tools.

“We are committed to making our customers’ lives easier by simplifying the complex, and our acquisition of an innovative SaaS spend management platform allows the office of the CFO to address another significant pain point regarding one of their largest areas of spend outside of leases,” said George Azih, founder and CEO of LeaseQuery. ‌“Expanding our offering beyond lease accounting gives our combined customer base something no other provider is offering in the market – centralized visibility into two of their biggest spend areas, SaaS subscriptions and leases, in one comprehensive platform, enabling them to identify and reduce unnecessary spending.”