Wolters Kluwer Legal & Regulatory has signed an agreement to acquire Libra Technology GmbH (Libra), a Berlin-based provider of AI technology for legal professionals, for up to €90 million, of which €30 million is an upfront payment with the balance being deferred consideration contingent upon reaching certain performance targets.
Libra has developed the Libra AI assistant, an intuitive, best-in-class legal platform designed to help law firms and legal departments streamline broad research, drafting, review, and analytics use cases with accuracy and efficiency in a secure collaboration environment. Libra serves a substantial and rapidly growing customer base of law firms and corporate legal departments in Germany and other European countries.
Martin O’Malley, CEO Wolters Kluwer Legal & Regulatory division: “This acquisition complements Wolters Kluwer’s Expert AI solutions already available in our legal research platforms in Europe and the US to deliver enhanced value to legal customers. Libra’s proven, cutting-edge solution fits perfectly with and accelerates our exciting AI roadmap. We look forward to welcoming the Libra team to Wolters Kluwer and deliver even greater impact for our customers.”
Viktor von Essen, Co-Founder and CEO of Libra Technology: “By joining Wolters Kluwer, and gaining access to its pre-eminent and proprietary legal content and deep domain expertise, we will be able to unleash the full potential of our Libra AI assistant across markets. Wolters Kluwer Legal & Regulatory shares our passion for leveraging advanced technology to enhance the practice of law. The Libra team are looking forward to joining Wolters Kluwer and accelerating our geographic expansion together.”
Read full article: https://www.wolterskluwer.com/en/news/wolters-kluwer-to-acquire-legal-ai-assistant-software-provider-libra-technology-gmbh
