Aderant buys Redwood Analytics from LexisNexis
Aderant today announced a deal with LexisNexis for Redwood Analytics, a business intelligence software company. Redwood Analytics supports more than 170 large law firm clients worldwide. Aderant say the acquisition demonstrates Aderant’s commitment to investing in business intelligence and providing its clients best-in-class software and access to the industry’s leading subject matter experts.
Aderant CEO Chris Giglio said “Aderant clients have realized tremendous profitability gains by implementing business intelligence analytics. Redwood Analytics enables us to build on that success and offer our clients a more robust and integrated case management, financial management, and analytics platform. Redwood Analytics capabilities further our ability to help our clients manage, protect, and grow their firms.”
LexisNexis Business of Law Software Solutions division VP & General Manager Mike Lipps added “This deal underscores a renewed focus on our core offerings where we have a market leading position. It’s important to note that we remain committed to our portfolio of products and will continue to develop world-class software that helps our customers manage the business of law. Aderant is the perfect partner and we intend to make the transition as smooth and efficient as possible.”
COMMENT: LexisNexis acquired Redwood Analytics in late 2007/early 2008 and spent the next six years wondering what to do with it. We’ve lost track of the number of internal corporate reoganisations that have happened in the intervening year… first it was going to be part of a professional services division along with InterAction. Then, in the UK at least, it became part of the sotware products division along with Axxia, Visualfiles and Interaction. Another problem was LexisNexis failed to retain key staff members at Redwood, such as founder, chief strategy officer and general company evangelist Norm Mullock, who joined Intapp in August 2010. Mike Lipps comment’s about “this deal underscores a renewed focus on our core offerings” also supports the widely held view that LexisNexis (in the US at least) will cut its involvement in legal applications to focus on legal information services.