doeLEGAL today announced that it has been acquired by intellectual property solutions provider, Questel. According to the media release, Questel is an end-to-end intellectual property solutions provider to more than 6,000 clients and 1M users across 30 countries. In the announcement, Charles Besson, CEO of Questel, highlighted that the acquisition of eDiscovery expertise and experience would help fortify Questel’s core business.
From seed and venture capital investments to private equity and Special Purpose Acquisition Companies (SPACs), Mike Bryant, an industry veteran and current operating partner and advisor at Knox Capital, shares information, intelligence, and insight into the legal tech investment landscape during his 20-minute educational presentation and discussion as part of the Winter 2021 Summit on Legal Innovation and Disruption (SOLID) conference on January 29, 2021.
According to Wendell Jisa, founder and CEO of Reveal, “Backed by K1, Reveal’s merger with Brainspace has set into motion the next phase of AI innovation in the practice of law. Fueled by some of the world’s most powerful AI technology and underpinned by the Reveal review platform, we are ushering in a new era of automation in legal technology.” Additionally, today’s media release notes that K1’s investment will be used to fuel growth, including expanding the sales and marketing teams, building additional functionality within the products, and hiring within R&D, data science, and customer success to augment the client experience.
Since beginning to track the number of publicly highlighted merger, acquisition, and investment (M&A+I) events in the eDiscovery ecosystem, ComplexDiscovery has noted at least 453 M&A+I events between November 2001 and December 2020. In considering M&A+I events in 2020, the following findings, drivers, data points, and tracking charts may be useful for understanding the activity patterns of these business events between January 1, 2020, and December 31, 2020.
According to Relativity CEO Mike Gamson, “It’s imperative that the legal and compliance industries stay ahead of and evolve with the changing nature of work in organizations globally. Enterprise communications will continue to shift rapidly and scale from traditional channels like email toward chat and collaboration platforms. That’s why Relativity is committed to investing in technology that connects directly to native cloud data sources for surveillance and e-discovery workflows, evolving the data paradigm from documents to include conversations.”
From Nuix and DISCO to Exterro and AccessData, the following findings, data points, and tracking charts highlight information that may be useful for understanding M&A+I activity patterns in the eDiscovery ecosystem from October 1, 2020, through December 31, 2020. During 4Q20 there were at least eight M&A+I events, a pulse rate that exceeded the pre-COVID investment pulse rate of seven events during the same time frame in 2019.
According to DISCO CEO Kiwi Camara, “Legaltech is booming now, and the industry’s real growth has only just begun. Over the next five to 10 years, legaltech will emerge as the next high-growth category of enterprise software. We are delighted to see investors acknowledge DISCO’s position as the category creator and category leader for legaltech. Legal departments and law firms are embracing the power of artificial intelligence to automate away the parts of the practice of law that don’t require human legal judgment, freeing great lawyers to do the work that only they can do.”
The presented listing highlights key industry business moves by sharing the announcement date, acquired company, acquiring or investing company, and acquisition amount (if known) of significant eDiscovery-related mergers, acquisitions, and investments.
According to Nuix, it is a leading provider of investigative analytics and intelligence software with a vision of “finding truth in a digital world”. Nuix’s stated mission is to create innovative software that empowers organizations to simply and quickly find the truth from any data in a digital world. Having been used globally in high-profile investigations including the highly-publicized Panama Papers headline event, Nuix now is finding its own truth as a publicly-traded company on the Australian Securities Exchange.
According to TCDI Founder and CEO Bill Johnson, “For 30 years, we’ve steadily built upon our innovative, client-driven technology, and this move supports our strategy to meet our clients’ growing needs. Both companies share very similar cultures and philosophies which ensures our clients will continue to get the same high-quality service they expect.”