A start-up from Allen & Overy’s (A&O) Fuse innovation hub is one of the first 17 companies to join banking giant Barclays’ legal technology lab.
Deal platform Legatics, which has been in Fuse for each of A&O’s first two cohorts, has taken up residence at Barclays’ 100-person LawTech Eagle Lab in London’s Notting Hill. AI provider ayfie, contract generator Ginie AI, and document collaboration platform Annotate are the only other start-ups in the lab to have been named. Continue reading “A&O Fuse start-up among first to take space at Barclays’ law tech lab”
Mid-tier pacesetter Fieldfisher has become the latest firm to explore volume legal services, opening a low-cost hub in Belfast to be staffed by 125 people.
The new Northern Irish office will provide document negotiation and legal support from a team largely consisting of paralegals. The venture is being launched in conjunction with Donaldson Legal Consulting (DLC), with which Fieldfisher has had a Belfast tie-up since the end of last year. Continue reading “‘Not starting from scratch’: Fieldfisher opens high-volume hub in Belfast”
Mere months after New Law pioneer Lawyers On Demand (LOD) secured private equity backers to position itself as a global player, fellow alternative legal services business darling, Riverview Law, has been acquired by Big Four accountancy firm EY.
The financial details of the deal, announced today (7 August), were not disclosed, but Riverview’s turnover is believed to have risen to more than £10m since it launched in 2012, meaning the acquisition is expected to carry a hefty price tag. Continue reading “Into the mainstream: another big New Law exit sees EY acquire Riverview Law”
Withers has bought out six-partner UK tech law boutique JAG Shaw Baker in the latest chapter of its global expansion.
JAG’s 26-lawyer team has today (1 August) joined Withers’ London and Cambridge operations as the private wealth specialist targets investors and entrepreneurs in the life sciences and digital world. Continue reading “Withers targets global tech industry with acquisition of UK boutique JAG”
Allen & Overy (A&O) is unlikely to replace the start-up that has been snapped up by Facebook just two months after it joined Fuse, the magic circle firm’s innovation hub.
London-based Bloomsbury AI, which has built a tool that can read documents and answer questions about them, is joining the social media giant in a deal reportedly worth between $23m and $30m. Facebook has confirmed the move but would not comment on its value. Continue reading “Allen & Overy Fuse start-up Bloomsbury sold to Facebook for $23m”
Staffordshire-based Knights is set to raise £50m from its initial public offering (IPO) on AIM this week (29 June), with the firm’s four selling shareholders to split £20m in proceeds.
The float – which would be the largest legal IPO to date – is also expected to give Knights a market capitalisation of £103.5m, in line with the firm’s forecast from earlier in the month. Continue reading “Knights shareholders to get £20m windfall after float valued at over £100m”
The burgeoning legal technology scene has seen Slaughter and May confirm it will launch a legal technology incubator in the next year, while highly-rated start-up Tessian raises £9m.
In a highly symbolic move for the industry, Magic Circle firm Slaughters has confirmed the launch of a law tech programme it flagged earlier this year, to sit alongside its existing Fast Forward fintech incubator. Continue reading “Slaughters confirms highly-symbolic legal tech incubator launch as another start-up secures $13m investment”
Thrusting national operator DWF is gearing up to be the largest UK firm float yet with a London Stock Exchange listing later this year. The top 25 UK law firm initially went into standard non-denial mode today (15 June) over reports it is aiming to float later this year with a supposed price tag of £1bn.
The presence of City PR shop Finsbury, which was today distributing ‘background briefing points’, signalled that DWF was being positioned for an offering. Within an hour the firm anyway changed its public position to issue a statement (see below).
Continue reading “Thrusting DWF primed for largest law firm listing yet but eyebrows raised at touted price”
An artificial intelligence (AI) company boasting Linklaters as one of its key clients is targeting the world’s biggest firms after securing £13m in one of the legal tech sector’s biggest investments.
Heavyweight investors Goldman Sachs and Temasek, Singapore’s sovereign wealth fund, co-led on the investment in Eigen Technologies, announced Monday (11 June). The round outstrips the $10m raised late last year by fellow AI player, legal tech darling and Slaughter and May investment, Luminance. It also builds on seed funding it received from CVC Capital Partners managing partner Jonathan Feuer. Continue reading “Linklaters legal AI partner ropes in market-leading £13m investment”
One of the earliest adopters of the Alternative Business Structure (ABS) model is turning to the public capital markets to raise tens of millions to pay off debt and fund a war chest big enough to land three acquisitions by 2020.
Stafforshire-based Knights said on Monday (4 June) it was listing on the Alternative Investment Market (AIM), becoming the fifth law firm to do so. The float is expected to give the business a valuation of more than £100m, which would make it the largest legal initial public offering (IPO) to date. Continue reading “‘A sufficient war chest’: Knights turn to IPO for acquisition agenda”