Two significant mergers have reshaped the global market for legal process outsourcing (LPO). In the first consolidation, UnitedLex acquired LawScribe. Then, just days later, Thomson Reuters, made headlines with its acquisition of Pangea3.
The first deal brings together six-year-old LawScribe and UnitedLex, a Kansas-based LPO with specializations in litigation support, contract management, intellectual property, immigration law and legal research. UnitedLex has offices in Kansas, London, Tel Aviv and Gurgaon, while LawScribe has offices in Los Angeles, New York and Gurgaon.
“This acquisition reinforces our shared commitment to the efficient and advanced delivery of legal solutions in today’s evolving marketplace,” said Daniel Reed, UnitedLex’s CEO.
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Kunoor Chopra, the president and CEO of LawScribe, said: “UnitedLex’s industry leading technology and long-standing commitment to multi-shore delivery made our decision to join them an easy one. This acquisition enables us to extend our service lines and further address market demands.”
While news of the UnitedLex-LawScribe deal was still reverberating in LPO circles, Thomson Reuters announced its acquisition of Pangea3. The terms of the deal have not been disclosed, but some observers have speculated that the acquisition price may have exceeded US$35 million.
Pangea3 is headquartered in New York and Mumbai and has 650 employees at its major delivery centres in Mumbai and New Delhi. The LPO has served a wide range of clients including international law firms and financial services, pharmaceutical, healthcare, technology and consumer goods companies.
Thomson Reuters already boasts an extensive range of products aimed at the legal market. Its acquisition of Pangea3 is expected to complement its existing portfolio and generate synergies and cross-marketing opportunities.
“Pangea3 is true to our mission to help the legal system perform better, every day, worldwide,” said Peter Warwick, president and chief executive officer of Thomson Reuters, Legal. “We will now bring to the legal marketplace a responsive, high-quality, transformative resource for a broad range of legal support work. This is particularly important as law firms and general counsel adjust to the realities of the ‘new normal’, where efficiency, quality and responsiveness are paramount.”
Pangea3 co-CEO Sanjay Kamlani told India Business Law Journal that the deal will benefit his clients. “I think our clients are going to very quickly see a lot of value-add with Thomson Reuters.
“In addition, Thomson Reuters will enable us to engage in growth strategies that would otherwise not have been possible without the injection of substantial capital,” Kamlani added.
All of Pangea3’s employees will join Thomson Reuters, but will continue to be based in their New York, Mumbai and New Delhi offices. Kamlani and co-CEO David Perla will continue to head the management team at Pangea3, which will retain its current name.
Pangea3 has been named LPO of the Year for the second consecutive year in India Business Law Journal’s annual LPO Awards. UnitedLex has been named one of the Best Overall LPOs. Both companies have also won awards in various service-specific categories (see page 37).
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