JordanFurlong + merger   15

The Day After: Thoughts On The EY / Thomson Reuters LMS Deal – Artificial Lawyer
AL remembers back at the time of the deal noting that it seemed a bit unusual in terms of cannibalising legal work. But, TR seemed happy.

However, now the world has changed. Aside from TR stripping out parts of the business that it doesn’t see as core any longer, for example the sale of the Financial and Risk group, the time when law firms didn’t see LPOs and process-focused legal businesses as a threat is over.

This is because there is going to be a bifurcation in the world of legal work, between complex and process. And law firms still want to hold onto the process work. If they didn’t they would not be investing in legal AI systems, or building process centres in less expensive parts of the world.
accountants  process  merger 
april 2019 by JordanFurlong
New year brings major New Law deal as Elevate acquires Halebury
US-based New Law darling Elevate has continued its acquisitive form with the purchase of UK-based flexible lawyer firm Halebury, creating a combined business of over 1,000 members of staff and $70m in annual revenue.
newlaw  flex  innovation  merger 
january 2019 by JordanFurlong
What the Elevate/LexPredict Deal Means + Interview with Dan Katz – Artificial Lawyer
LexPredict has always been pioneering and a lot of Katz’s work has been around litigation, creating algorithmic models based on legal data, and prediction. They’ve also had a lot of experience in running an AI business, as well as working with lawyers through their consulting engagements and generally being at the cutting edge of this sector.

And, it’s worth noting that if you were in the market to buy a North America-based legal AI company, then first there are not that many well-developed ones to choose from, and of those that really stand out, such as Kira Systems and Seal Software, they are probably a bit too big now for an ALSP takeover, unless Elevate wished to pay in the hundreds of millions of dollars. Whereas LexPredict is still only around 20 people – so a much more doable deal.

Moreover, LexPredict and Elevate had already worked together, most recently on matters for tech company Cisco, but the formal link between the two companies goes back to June 2017 when they jointly announced a working partnership.

That said, Elevate has also long worked with Kira (see response on how things will go now with them, below).

The deal also builds upon Elevate’s own suite of legal tech tools and capabilities, known as Cael (see graphic below). Some of these tools are more developed than others, but you can clearly see where Elevate has been heading.

So, the deal with a legal AI company perhaps was inevitable at some point, the questions perhaps were only when and which company. And, if that had not been possible, Elevate may well have then tried to build its own capability that could compete with the likes of Kira, Seal, Luminance, Ayfie, RAVN (iManage), Diligen, Eigen…..and more…..which arguably they had already started on by working closely with LexPredict.
merger  innovation  competition  robo  it 
november 2018 by JordanFurlong
Reed Smith Eyes US Merger and Plans ABS Conversion | The American Lawyer
Reed Smith is aiming to move its Europe and Middle East arm to an alternative business structure, or ABS, by early next year, as the Pittsburgh-based firm also considers a domestic merger to bolster its coverage in the United States.
The American Lawyer affiliate Legal Week revealed last year that the global firm was considering converting its Europe and Middle East arm to the ABS structure in order to “future-proof” its operations.

Europe and Middle East head Tamara Box has told Legal Week that the firm is “absolutely planning” to move to the structure with the goal of completing the process in the final quarter of this year or the first quarter of 2019.
“We want to use that structure as an agility tool to ensure we are nimble enough to service our clients in the future,” Box said. “We operate as a global profit pool, so we have had to manage regulatory issues within different jurisdictions to clearly preserve that.”

An ABS conversion allows law firms to bring nonlawyers into its equity and share profits, and Reed Smith, which ranks 25th in the Am Law 100 and 32nd in the Global 100 with $1.1 billion in revenue, is attracted by the potential of closer integration with teams or businesses run by nonlawyers who could offer something different to its clients. The ability to share profits would help Reed Smith attract and retain senior staff on the consulting side.

Meanwhile, the firm—which lost a large group of lawyers from its Philadelphia office earlier this year—is also considering where it wants to bolster its U.S. operations and how best to do so.

One London Reed Smith partner said they felt the firm was “trying to gear us up for a possible merger” at the firm’s partner conference held in Orlando earlier this year. The partner said that while nothing specific was discussed, partners were given “soft messaging” about opportunities.
clementi  merger 
october 2018 by JordanFurlong
PwC Forms Alliance With US Firm, Furthering Big Four's Ambitions in Law | The American Lawyer
PwC has agreed to an alliance with U.S. immigration specialist law firm Fragomen in one of the most significant examples to date of the Big Four joining forces with a law firm. 
The alliance between PwC UK and Fragomen—which has more than 50 offices around the world and posted revenue of $577 million (£441 million) for 2017—will hand PwC a major foothold in the U.S. market, where the New York-based firm has 16 offices across all major financial centers.

The deal brings together two of the world’s top providers in the immigration sphere and will see PwC and Fragomen team up to jointly pitch for work from multinational clients. Significantly, the relationship will also enable shared clients to draw on PwC’s complementary services in tax, Social Security and global mobility consulting.
In a joint statement, the firms said the strategic alliance would see them collaborate and jointly market their immigration services, while also giving them “the ability to come together to provide integrated services to their respective clients.”

PwC’s global immigration practice covers 170 countries, while the 550-lawyer Fragomen has offices in more than 25 countries outside the U.S., including an eight-partner London
global  merger  immigration  accountants  competition 
september 2018 by JordanFurlong
Bryan Cave Leighton Paisner Shifts to Merit-Based Pay System | The American Lawyer
“Both parties have realised they have great clients, but management spent a lot of time talking about how we are being remunerated like we are to encourage collaboration and cross selling,” said one unnamed partner who attended the conference. ”It was really drummed in that, being one firm, we have a huge market advantage and that hunting in packs is going to be key.”

As part of the union between both firms agreed upon earlier this year, partners at legacy Berwin Leighton Paisner dropped the U.K. firm’s modified lockstep compensation structure to shift towards a system that sees all BCLP partners paid on a hybrid merit-based platform more closely aligned to that of legacy Bryan Cave.
compensation  cross  marketing  bizdev  merger 
june 2018 by JordanFurlong
Bryan Cave Leighton Paisner Brings Together 2 Leaders, 2 Firms |
The merger between Bryan Cave and BLP is unique in at least two respects: The combined profit pool, and the fact that both legacy firms were run by women. In both the U.K. and the U.S., women firm leaders remain a small minority, a continuation of women making up ever-smaller proportions of lawyers as they move up the law firm hierarchy.

In 2015, The Lawyer reported that eight of the 50 largest U.K. firms—16 percent—were led by women. Five women hold the chair or managing partner title among the 50 largest firms in the U.S. Bryan Cave Leighton Paisner said it would be the first global firm to be co-chaired by two women in Mayhew and Pritchard.

“From the first conversation, it was an unusually good fit and a good connection between the two of them,” said Kent Zimmermann, a consultant at The Zeughauser Group who advised BLP on the merger. “They’re like-minded on many issues, from innovation on down. And I think their relationship is not as typical as people might think.”

Mayhew said in an interview that she and Pritchard quickly developed “good personal chemistry.” But both women were quick to point out that the merger was the result of hard work by large teams at both Bryan Cave and BLP.
april 2018 by JordanFurlong
Canadian Firm Fasken Bolts on Boutique for Second British Columbia Base | The American Lawyer
The office’s opening, which went live on Feb. 1, is the second outpost for Fasken in British Columbia and will supplement the firm’s current operations in Vancouver, the largest by a law firm in the city. Surrey is the fastest-growing city in the province—it’s expanding at double the rate of Vancouver—thanks in part to its close proximity just north of the U.S.-Canadian border.

“It’s probably, some would say, the fastest growing city in Canada,” said Colin Cameron, a Canadian legal consultant and founder of Profits for Partners, Management Consulting Inc.

Surrey’s legal market is centered around real estate, banking and secured lending on the back of Vancouver’s booming housing market. But the suburb is also home to a growing startup, high-tech and emerging companies market, all of which play into Fasken’s strengths, Cameron said of a firm that launched a rebranding initiative late last year.

And while there are global legal giants like Dentons, DLA Piper and Norton Rose Fulbright with offices in Vancouver, those firms don’t have as many people on the ground as Fasken, which boasts 140 lawyers in its Vancouver office alone, Cameron said.

“Surrey has a quickly developing business community that includes companies that have grown from entrepreneurial roots in the area to companies that have relocated their head offices there from Vancouver,” said Fasken’s firmwide managing partner Peter Feldberg. “Our client base in the area is growing and we are following it.”

And part of that expansion was the addition of a team from Surrey-based Roxwal, including three corporate and commercial partners in Randal Dhaliwal, Paul Grewal and Jason Harris, as well as several other lawyers and staffers.

Feldberg said that in its expansion to Surrey, Fasken wanted a combination of Fasken lawyers and strong local practitioners. Fasken reached out to Roxwal, which had a budding business law practice in Surrey, and after some discussion the smaller firm chose to wind down its partnership and come aboard, Feldberg said.
fasken  merger  firms 
february 2018 by JordanFurlong
SJ Berwin name poised to vanish as King & Wood merger vote looms | News | The Lawyer
SJ Berwin is gearing up for a vote on a global merger with Asia-Pacific firm King & Wood Mallesons (KWM) that would see the UK outfit’s name disappear.
merger  global  china 
may 2013 by JordanFurlong
Slater & Gordon and Russell Jones & Walker tie up confirms law firms as business-savvy innovators, not 'merge or die' desperadoes | ABS, Alternative Business Structure, Chris Bull, competitive positioning, Edge International, Irwin Mitchell, King & Wood M
Merger and acquisition as an outflow of carefully thought-through strategy: as recently stated we see this as affirmation that many law firms see acquisition and merger as simply one possible strategy in achieving their vision and carefully thought through strategic key objectives. It is not a knee-jerk reaction to client or market pressure.
merger  clementi 
january 2012 by JordanFurlong
Rapid consolidation in conveyancing market as hundreds of firms quit | LEGAL FUTURES
The conveyancing market is consolidating fast, with the big getting bigger and the small getting out, figures from the Land Registry have indicated.
merger  competition 
january 2012 by JordanFurlong
Herbert Smith partners give green light to Freehills talks | News | The Lawyer
Herbert Smith management discussed whether to hold formal talks with Freehills in December (12 December 2011), and gave the negotiations the go-ahead. The decision came after London partner Greg Mulley, who is leading the firm’s push into Australia, held exploratory talks in Asia with Freehills and reported back to the partnership. Mulley is also understood to have spent time in Australia in the past two weeks.
january 2012 by JordanFurlong
Law Firm of the Year 2010 – irritatingly transparent, riskily unfixed- Legalweek
Clyde & Co

The only firm shortlisted for the second year running, Clyde & Co cuts a hugely impressive figure. Having grown from its origins as a City insurance specialist, the firm has bloomed into a genuinely distinctive practice that boasts considerable global reach. This transformation has been partly due to the firm's willingness to execute the kind of focused sector approach that many tout but most fail to deliver, broadening its practice to cover energy, trade, infrastructure and transport. Management has been sure-footed in recent years and frequently ready to move swiftly to secure opportunities. Financial performance has been outstanding in 2009-10 and on a five-year view. Recent highlights including the acquisition of an eight-partner team from Shadbolt, the signing of a credible alliance in India with ALMT Legal and sustained investment in its US practice. A very strong contender.
innovation  merger 
november 2010 by JordanFurlong

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