CLIO BLEN VLEX FOR $ 1 BURHED – Artificial Lawyer

Breaking News: CLIO has announced that it has signed a final agreement to get VLEX, legal research and productivity platform. The transaction is estimated at $ 1 billion and will be paid in a combination of cash and stock.

This transaction combines Clio’s legal operating system, trusted by over 200,000 legal professionals, with the Vex legal intelligence platform, anchored by Vincent, its advanced one built on the most versatile global industry database.

“This is a catchment moment for Clio and the broader legal profession,” he said Jack NewtonCEO and the founder of Clio. “For 17 years, we have built the basic platform that enables legal firms to operate with their highest potential. With VLEX, we are building that technology that understands the substance of law. By uniting business and law practice on a unified platform, we are revolutionizing every aspect of legal work. of a new index, one which will be of an acting aspect.

“This signals the beginning of a transformative era in the legal industry, unlike everything we have seen before,” he said FakeCEO and co -founder of VLEX. “Together with Clio, we have a bold vision for the future that empowers legal professionals to go beyond traditional research and operational silos, utilizing the most profound intelligence and wider influence. With the most all -round global library and knowledge of firms, Clio and Vlex are uniquely positioned and renewed to restart and re -work mechanics profession. ”

This is the most significant acquisition in the history of CLIO, both at the scale and the strategic influence, they said. More than strengthening the platform, it accelerates the company’s ability to give its mission to transform legal experience for all. Based on the upmarket of the CLIO sustainable momentum, the purchase further expands its global trace and underlines the broad, unused possibility of innovation throughout the wider legal industry. CLIO is now positioned not only to help legal professionals manage their firms, but to strengthen the full delivery of legal services-extending its achievement throughout the global trillion dollar services market, they added.

The transaction is expected to close later this year, subject to conditions of customary closure and regulatory approval.

Goldman Sachs acted as the exclusive financial adviser to Clio. Firms of Law Osler, Hoskin & Harcourt LLP, Wilson Sonsini Goodrich & Rosati and Gowling WLG served as legal adviser to Clio.

JP Morgan acted as the exclusive financial adviser to VLEX. Legal firms Allen overy Shearman Sterling LLP, Hogan Lovells International LLP and Uría Menéndez Abogados, SLP served as a legal adviser to VLEX.

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