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Changes in the Legal Tech Market As Viewed Through Recent M&A Activity

By Paul Vander Vort
April 30, 2013

Over the past few years, especially since the onset of the 'Great Recession' and even now during what appears to be an economic recovery, there has been increased talk about meaningful changes to the legal market. While there are a number of ways to analyze these changes, one interesting approach is to look at acquisition and private investment activity in the legal market over that same time period.

Information Resources

For years, the leading providers of legal information resources have been permanent fixtures within law firms, but with increased pressure to generate revenue and reduce expenses, driven by clients' more critical review of their legal bills, law firms have looked for ways to contain (or cut) their spend with such providers ' whether by reducing the print component of their libraries, moving to a single source for legal information and/or using cheaper or free legal information resources for some amount of research. As a result, particularly over the last several years, these leading providers have looked to diversify (partially through acquisitions) the types of solutions they offer to law firms, as well as whom they serve in the legal market. The number of new legal market solution providers has also increased, as has the level of institutional investment in the market.

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