Clio today (30 June) announced it has signed a definitive agreement to acquire vLex, a pioneer in legal intelligence that combines GenAI with its global legal research platform. The transaction is valued at US$1 billion and will be paid in a combination of cash and stock.
This transaction, which brings together under one roof technology focused on both the practice and business of law, is a major milestone in Clio’s platform evolution. It combines Clio’s legal operating system with vLex’s legal intelligence platform, which includes Vincent, its GenAI tool.
Clio historically focused on cloud-based practice management for the small to mid-market and this year acquired UK case management system provider ShareDo to target the enterprise legal market.
“This is a watershed moment for Clio and the broader legal profession,” said Jack Newton, CEO and founder of Clio. “For 17 years, we’ve built the foundational platform that enables law firms to operate at their highest potential. With vLex, we’re building on that foundation with technology that understands the substance of the law. By bringing together the business and practice of law in a unified platform, we’re revolutionizing every aspect of legal work. This sets the stage for a future powered by agentic AI, and marks the establishment of a new industry category—one that will empower legal professionals to serve clients with unprecedented insight and precision.”
vLex as we know it now was formed in April 2023 from the merger of vLex and Fastcase, with offices in the US, Europe, the UK, Asia and Latin America. The combined library contains over a billion documents including judicial opinions, statutes, regulations, court rules, docket sheets, pleadings and news articles. In October of 2023, vLex launched the first version of its LLM-based legal assistant Vincent AI, which can analyse documents, extract and summarise information, and draft documents.
The acquisition puts Clio, which raised $900m at a $3bn valuation last year, on a new and very different trajectory.
“This signals the onset of a transformative era in the legal industry, unlike anything we’ve seen before,” said Lluís Faus, CEO and co-founder of vLex. “Together with Clio, we have a bold vision for the future that empowers legal professionals to go beyond traditional research and operational silos, harnessing deeper intelligence and broader impact. With the most comprehensive global legal library and firm insights, Clio and vLex are uniquely positioned to reshape the mechanics of legal work and redefine the trajectory of the profession.”
This is the most significant acquisition in Clio’s history. “This acquisition expands the boundaries of what legal technology can achieve,” said Newton. “It unlocks new levels of intelligence and scale that directly advance our mission. We’re shaping a future where legal services are more insightful, connected, and accessible than ever before.”
The transaction is expected to close later this year, subject to customary closing conditions and regulatory approvals.