Arteria AI, a contract lifecycle management solution spun out by Deloitte in October last year, has agreed to acquire certain financial services assets of rival CLM platform H4. As part of the agreement, H4’s chairman and co-founder Joe Seifert will join Arteria AI’s team as a senior advisor.
Shelby Austin, CEO of Arteria AI, said: “This is a very exciting time for our business as we set out to unleash the power of data to help global financial institutions solve their client documentation challenges at scale. Since spinning out of Deloitte we have continued on an incredible growth journey accelerated by the market’s clear preference for data-first solutions.
“It is a strategic decision for us to acquire certain financial services assets of H4 to expand our reach and super-charge our efforts. Joe Seifert will bring invaluable experience and expertise to our team. We look forward to working together to provide an unrivalled, data-first client documentation solution for global financial institutions.”
Seifert said: “Arteria AI and H4 cover most of the top-tier of the financial services market and it made perfect sense to join forces. Having spent time with Shelby and the team, I’m very excited that the combination will support Arteria AI’s position as a leader in digital documentation transformation across the global banking sector.”
You can watch Legal IT Insider editor Caroline Hill’s earlier interview with Joe Seifert here: https://www.litera.com/litera-tv/episodes/ft-joe-seifert/ – the interview focused on a pilot with JP Morgan.