Source: Financial Times by Will Louch and Suzi Ring
UK law firm Allen & Overy is selling its legal tech business aosphere to private equity, the latest in a series of deals between large corporations and investment groups.
The transaction, which involves UK private equity firm Inflexion and US investor Endicott Capital taking stakes in the business, values aosphere at more than £200mn, according to a person familiar with the details. Allen & Overy will retain a minority interest in the company.
The decision to sell stakes to private equity comes as Allen & Overy continues to reshape its business following its decision to merge with New York law firm Shearman & Sterling, in what is one of the legal industry’s largest-ever tie-ups.
Read full article: https://www.ft.com/content/26f4ff68-922f-4fa7-ab67-c261c082a904
