Axiom Announces Confidential Submission of Draft Registration Statement for Proposed Initial Public Offering
Axiom Global Inc. today [February 19, 2019] announced it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”) relating to the proposed initial public offering of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The proposed offering is subject to, among other things, completion of the SEC review process and market conditions.
Alternative Legal Services Provider Axiom to Go Public, Applies for IPO
Extract from an article by Hannah Roberts
Alternative legal services provider Axiom has applied to float in the U.S. following the spinoff of two of its businesses.
The company, which launched in 2000 and specializes in offering technology-enabled legal services, submitted a draft registration statement to the Securities and Exchange Commission on Tuesday.
Axiom spun off its data analytics arm Knowable and legal solutions platform Axiom Managed Solutions last week in preparation for the move.
Knowable and Axiom Managed Solutions Spun Off from Axiom
Knowable, the market leader in enterprise contracts intelligence, and Axiom Managed Solutions (AMS), the leader in next-generation solutions for complex legal work at scale, today [February 19, 2019] jointly announced that they have been spun off from Axiom, a leading global marketplace for on-demand corporate legal talent, as two new independent companies, effective February 12, 2019.
“Across the years, jointly innovating with our clients as a part of Axiom, we’ve developed the view that there are three fundamental categories of legal work,” said Brendan Nelson, Head of Product, Knowable. “Irreducibly complex legal work that only the most experienced and talented lawyers can do; repeatable work that requires experienced lawyers but begs for the scaffolding of purpose-built tools and process; and, finally, the kind of work that people should not do at all, because the learning, memory, and processing capacity of machines is simply better at it.”
Continued Nelson, “Under Axiom’s brand umbrella, AMS and Knowable have built market-leading businesses and solutions to address the second and third categories, respectively. Today’s announcement recognizes the benefits of focus. Operating as independent companies will enable all three businesses to specialize in addressing their unique market opportunities.”
As the market leader in enterprise contracts intelligence, Knowable gives corporate clients revolutionary visibility into the relationships that govern their businesses. By converting archaic legal language into structured data, Knowable helps its clients find, search, organize, and analyze their contracts, providing – for the first time – portfolio level views of risks, obligations, and entitlements. As the world’s leader in contract data analytics, with more than 25 million contract data elements analyzed each quarter, Knowable combines proprietary machine learning tools with scalable facilities for human quality control that, together, enable a full contracts intelligence solution for the enterprise.
As the leader in next-generation solutions for complex legal work at scale, AMS empowers clients to rationalize legal spend by providing new delivery models for legal projects and processes. Clients turn to AMS for real solutions to big problems, ranging from one-off regulatory projects to long-term managed services. AMS leverages modernized processes, smart resourcing constructs, and the best of legal technology to help clients overcome the limitations of the traditional in-house and law firm models.
Added Chris DeConti, Chief Revenue Officer, AMS: “Both Knowable and AMS require and deserve the sharpness of focus, capital, and leadership energy that come with being independent growth companies. Independence will also allow us to seize unique opportunities and better serve clients, with an efficiency of focus, dedicated management teams, and tailored investment strategies.”
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