The combination of the LexisNexis technology and content with the unique capabilities of Lex Machina creates a scalable infrastructure to build next generation Legal Analytics solutions across a wide variety of practice areas.
New York, NY (PRWEB) November 23, 2015
LexisNexis® Legal & Professional today announced that it has acquired privately held Lex Machina, Inc., creator of award-winning Legal Analytics®, a next-generation technology platform that transforms how law firms and companies excel in the business and practice of law. Terms of the transaction were not disclosed.
Lex Machina, based in Silicon Valley, delivers a Software as a Service platform that helps lawyers predict the behaviors and outcomes of different legal strategies by mining, tagging, categorizing and enhancing millions of Federal court dockets and documents. The technology allows lawyers to make strategic, data-driven decisions and develop winning litigation strategies using competitive intelligence on opposing parties and counsel, track records and key decisions by presiding judges, as well as reveal trends by case outcomes.
“Data and analytics are integral to the future of the practice of law and the addition of Lex Machina solidifies the LexisNexis position as a leader in providing analytic decision tools for legal professionals,” said Sean Fitzpatrick, managing director of North American Research Solutions at LexisNexis. “We are excited to welcome a company at the forefront of innovation, and we plan to leverage our extensive resources to bring the benefits of Legal Analytics to lawyers everywhere.”
The combination of the LexisNexis technology and content with the unique capabilities of Lex Machina creates a scalable infrastructure to build next generation Legal Analytics solutions across a wide variety of practice areas. Furthermore, integrating analytic capabilities into existing LexisNexis solutions, such as Lexis Advance®, will bring new decision-insights to lawyers.
In particular, the collection of court dockets and documents from LexisNexis CourtLink® provides a deep and comprehensive resource for Lex Machina technology that will deliver an unprecedented view of lawyer and law firm performance, legal market trends and judicial tendencies that are needed to make critical decisions about a case. The acquisition also serves as a catalyst to enhance existing LexisNexis analytical decision tools such as LexisNexis® MedMal Navigator® and LexisNexis® Verdict & Settlement Analyzer.
The Lex Machina Legal Analytics platform has become a “must have” technology for 45 of the Top 100 IP law firms, as well as multi-national companies such as eBay, Google, IBM, AstraZeneca and Nike. Through the acquisition, Lex Machina gains access to the considerable resources of LexisNexis, including an extensive base of content, a state-of-the-art global technology platform and a top-flight sales organization that covers all segments of the legal marketplace.
“We’re proud to have brought transparency to IP litigation with Legal Analytics. The only thing inhibiting our entry into other areas of the law is access to content,” said Josh Becker, CEO of Lex Machina. “By joining the LexisNexis family, we will accelerate the introduction of Legal Analytics to more practice areas and enhance insights for our customers with the advanced technology of the Lexis Advance platform."
Because LexisNexis recognizes the importance of the leadership and culture at Lex Machina to the creation of innovative Legal Analytics solutions, it will operate as a stand-alone entity within the North American Research Solutions group within LexisNexis Legal & Professional.
The acquisition of Lex Machina is part of the ongoing LexisNexis commitment to offer modern, next-generation legal research solutions that harness the power of Big Data through natural language processing and machine learning to help legal professionals work more efficiently, make more informed decisions and drive success for their clients, practice and business.
About LexisNexis® Legal & Professional
LexisNexis Legal & Professional is a leading global provider of content and technology solutions that enable professionals in legal, corporate, tax, government, academic and non-profit organizations to make informed decisions and achieve better business outcomes. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. Today, LexisNexis Legal & Professional harnesses leading-edge technology and world-class content to help professionals work in faster, easier and more effective ways. Through close collaboration with its customers, the company ensures organizations can leverage its solutions to reduce risk, improve productivity, increase profitability and grow their business. LexisNexis Legal & Professional, which serves customers in more than 175 countries with 10,000 employees worldwide, is part of RELX Group plc, a world-leading provider of information solutions for professional customers across industries.
About RELX Group
RELX Group is a world-leading provider of information solutions for professional customers across industries. The group employs about 28,500 people of whom half are in North America. RELX PLC, the London Stock Exchange listed shareholding vehicle, holds 52.9% of the shares in RELX Group. RELX NV, the Amsterdam Stock Exchange listed shareholding vehicle, holds 47.1% of the shares in RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. The total market capitalisation is approximately 24.2bn GBP / 34.5bn Euro / 36.9bn USD.
About Lex Machina
Lex Machina's award-winning Legal Analytics® platform is a next generation legal technology that fundamentally changes how companies and law firms compete in the business and practice of law. Delivered as Softwareas aService, Legal Analytics creates structured data sets covering judges, lawyers, parties, and IP out of millions of pages of legal information. This allows law firms and companies for the first time ever to predict the behaviors and outcomes that different legal strategies will produce, enabling them to win cases and close business.
Lex Machina is used by established companies such as Google, and eBay, and prominent law firms like Wilson Sonsini, Morgan Lewis, and Fenwick & West. The technology was initially created by experts at Stanford University’s Law School and Computer Science department. Lex Machina was named one of the “Best New Legal Services” by readers of The Recorder in 2014 and 2015, and received the “Best New Product of the Year” award in 2015 from the American Association of Law Libraries.