Sat. Jan 29th, 2022
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    Content Assessment: A Foray by Morae? New Funding and Acquisition of Adaptive Solutions

    Information - 90%
    Insight - 85%
    Relevance - 90%
    Objectivity - 85%
    Authority - 90%

    88%

    Good

    A short percentage-based assessment of the qualitative benefit of the post highlighting the recent announcement of new funding and an acquisition by Morae Global.

    Editor’s Note: From time to time, ComplexDiscovery highlights publicly available or privately purchasable announcements, content updates, and research from cyber, data, and legal discovery providers, research organizations, and ComplexDiscovery community members. While ComplexDiscovery regularly highlights this information, it does not assume any responsibility for content assertions.

    To submit recommendations for consideration and inclusion in ComplexDiscovery’s cyber, data, and legal discovery-centric service, product, or research announcements, contact us today.


    Press Announcements

    Morae Receives New Funding from BlackRock

    Growth Capital to Fuel Organic Expansion and Strategic Acquisitions in the Burgeoning Legal Market for Digital and Business Transformation Solutions

    Morae Global Corporation, the global leader in digital and business transformation for the legal industry, today announced the company has completed a new financing from certain funds and accounts managed by BlackRock, a global investment management firm. As part of the transaction, existing investor Lateral Investment Management (“Lateral”) has become the company’s majority shareholder, alongside BlackRock as senior lender and minority shareholder. The funding will provide Morae with growth capital to further expand its market presence and capabilities and to execute on strategic acquisitions to help its clients with more comprehensive solutions.

    “The closure of this new funding marks a milestone in Morae’s remarkable journey and in our mission to transform the legal industry through our vision, people and technology,” said Shahzad Bashir, Chairman and CEO at Morae. “We are grateful to our new and existing investors for their commitment and support which adds momentum for the next stage of Morae’s continued growth and development. We plan to announce a new acquisition which will expand the scale of our operations, service capacity and market share for the delivery of technology-enabled solutions for law firms and corporate legal departments.”

    Zachary Viders, Managing Director, Global Credit Opportunities at BlackRock said, “We are very excited to invest in Morae, which has established itself with a unique brand and valued reputation as a global provider of digital and business transformation solutions for the legal, compliance, and risk management markets. We were impressed with the company’s leadership team and vision, business strategy and their tangible capability to deliver the outcomes their clients care about most.”

    Richard de Silva, Managing Partner, at Lateral said, “We congratulate Morae’s leadership and BlackRock on the successful completion of this financing. Shahzad and the rest of the Morae team have a great vision and plan for growth supported by a solid foundation they’ve built as a trusted provider of strategic advisory services and transformational solutions tailored to the needs of their corporate and law firm clients. We are excited to continue supporting Morae on their journey.”

    Bashir added, “As we look to the future of legal services, we see a fundamental shift and growing market opportunity across the legal ecosystem. What remains unchanged is our singular focus on our clients and our people globally – the ‘outside in approach’ behind our OneMorae vision.”

    Founded in 2015 by industry veterans, Morae has grown from its initial roots in strategic advisory services to include a comprehensive range of technology-enabled and managed services from offices across four continents. Along with its organic growth, a series of M&A deals served to accelerate this growth, including a 2017 merger with Clutch Group and acquisitions of AegisAdvantage (2017), Phoenix Business Solutions (2019), Janders Dean (2020), and Trinogy Systems (2021).

    Throughout Morae’s growth, the company has cultivated strong industry partnerships and a OneMorae culture within, including the quick and welcoming integration of new teams. The company has recently been recognized for its service excellence with a series of prestigious awards, including as an ACC Value Champion, winner of the LegalWeek Innovation Awards, and various partner awards.

    To learn more about Morae’s history, vision and mission, visit us at moraeglobal.com/about.

    Read the original announcement.


    Morae Creates North American Digital Transformation Powerhouse with Strategic Acquisition of Adaptive Solutions

    Solidifies Global Leadership Position for Document and Information Management Solutions for the Legal Industry

    Morae Global Corporation, the global leader in digital and business transformation for the legal industry, today announced the expansion of the company’s North American and Asian operations and business with the strategic acquisition of Philadelphia-based information management provider Adaptive Solutions, Inc. (“Adaptive”). The acquisition strengthens Morae’s existing North American delivery and support capabilities for its comprehensive array of technology offerings and managed services designed to enable law firms, legal departments, and compliance functions to more efficiently and effectively manage their cost, information, and risk. News of the acquisition follows Morae’s announcement of new funding from BlackRock.

    The addition of Adaptive builds upon Morae’s earlier acquisitions of Sydney-based Trinogy in January 2021 and London-based Phoenix Business Solutions in May 2019. The combination of all three solidifies Morae’s market position as the global leader in digital transformation solutions for the legal industry, including as the world’s largest iManage implementation partner for information and document management solutions.

    “I am delighted to continue the expansion of our digital transformation strategy though this acquisition. This enables Morae to digitize information management for law firms and legal departments globally, building upon our dominant position in Europe and Australia. Our goal is to make legal executives the most informed and connected executives in the legal industry,” said Shahzad Bashir, Chairman and Chief Executive Officer at Morae. “We give a warm welcome to the Adaptive team and their clients, and look forward to working closely together for a smooth integration between our teams and the continued delivery of exceptional service and support for our clients.”

    iManage recently recognized both Adaptive and Morae among its best partners in the world. Adaptive was named as 2020 Corporate Partner of the Year and 2020 Mid-Market Law Firm Partner of the Year and Morae was named as 2020 Cloud Excellence Partner of the Year. The award-winning teams of both companies are now brought together into one of the highest concentrations of digital transformation expertise anywhere in the legal industry.

    All three members of the Adaptive executive leadership team – Dean Bartholomew, Chuck Davis and Adam Doblo – will take on roles at Morae as Managing Directors in the US with a continued focus on their existing clients and portfolio. In addition, Adaptive’s wider team of skillful consulting, implementation and support professionals will integrate with Morae’s existing North American, European and Asian digital transformation teams for an unparalleled depth of expertise and high-quality service delivery and support.

    “We’re delighted to join Morae, a rising star in the legal industry, driven by a vision and passion for legal transformation that fully delivers on their promise of outstanding results for clients. Cultural fit between our teams was crucial for us – and Morae’s core values in integrity and trust, accountability, and collaboration perfectly align with our own,” said Adam Doblo, CEO at Adaptive Solutions.

    Chuck Davis, President at Adaptive Solutions, added: “Our mutual clients will also benefit from our deeply collaborative relationships with iManage and our other technology partners for a broader array of solutions and integrations for information management, governance, analytics, and security across the spectrum of legal and compliance obligations. This includes the practical application of automated workflows and artificial intelligence to greatly increase both the efficiency and effectiveness of how our clients perform and deliver legal work to their own clients and stakeholders.”

    Mathew Crocker, Chief Strategy Officer at Morae, concluded: “Morae is deeply committed to providing positive outcomes to the complex challenges our clients face. The legal industry was already in the midst of widespread global change, including a significant uptick in cloud migration and technology adoption, which has been heightened by the strain from the pandemic and a seismic shift in working practices. We are perfectly positioned to drive change within the industry through our successful approach to digital and business transformation where market demand is greater than ever for highly resilient, transparent, and efficient solutions.”

    To learn more about how Morae is transforming the legal industry, see our most recent case studies at moraeglobal.com/case-studies.

    Read the original announcement.


    About Morae Global Corporation

    Morae Global Corporation is trusted worldwide by leading law firms, legal departments, and compliance executives for the delivery of digital and business transformation solutions. Founded in 2015 by pioneers in the legal operations field, our vision is to execute legal + business strategies, resulting in lasting change, value and protection. Morae’s clients regularly refer us to their peers, our people stay with us, and our services keep clients ahead of what’s next. Morae offers the right people and technology needed by legal professionals across globe, from our offices on four continents. Learn more at moraeglobal.com.

    Additional Reading

    Source: ComplexDiscovery

     

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