LexisNexis acquires transaction management platform Closd

LexisNexis Legal & Professional announced today (2 December) that it has acquired 2018-founded transaction management platform Closd.

Closd’s SaaS platform provides end-to-end legal project management solution including automated workflow management, secure document sharing, data rooms, electronic closing, transaction bible generation and document archiving.

The French startup, which is March 2020 raised €600,000 in seed funding, serves more than 42,000 users consisting of transactional lawyers, in-house legal counsels and dealmakers in Europe and beyond. Closd will become part of LexisNexis Legal & Professional as part of its global strategy to develop an ecosystem of solutions to serve legal professionals with analytics, legal document management and decision support tools.

Philippe Carillon, president of LexisNexis for Continental Europe, Middle East and Africa, said: “Closd has quickly become a top-tier provider of legal transaction management. Its technological edge in legal workflow management, data rooms and electronic signatures will be combined with our own strengths in advanced technologies and content to deliver products that enable our customers to work in more effective and efficient ways. This acquisition is in line with our organic growth driven strategy, supported by acquisitions of analytics and workflow automation solutions that are natural additions to our existing business.”

Closd co-founder and CEO, Grégoire Debit, said: “We are proud to join LexisNexis and to contribute to the group’s cutting-edge innovation strategy. Synergies between our entities and products are clear. This alliance with an established global provider of legal information and technology will boost our growth and the development of our solutions, and help our internationalization strategy, in a booming sector. We truly look forward to building the future of work for legal professionals with the LexisNexis team.”