Capsoft buys HotDocs business from LexisNexis
Capsoft, the Edinburgh-based provider of document automation software and services, and LexisNexis have announced the sale of the HotDocs software business to Capsoft. Financial terms of the purchase were not disclosed. Through retention of its Automated Forms group, LexisNexis will continue to provide HotDocs-enabled forms and precedents with solutions such as LexisPSL, LexisONE, lexis.com, LexisLibrary, LexisNexis Total Practice Advantage, and other LexisNexis Automated Forms sets.
Over the past 13 years, Capsoft has been distributing and implementing HotDocs software in some of the largest law firms and financial institutions in the UK, Europe, Australia, and the Pacific Rim. (Capsoft began its relationship with HotDocs back in the days when it was still an independent company, before its acquisition by LexisNexis.)
Russell Shepherd, CEO of Capsoft, said, “For Capsoft, this is a natural progression and one I am very excited about. As an established distributor of HotDocs, we know the product inside and out and are extremely well placed to invest in the continuous development of both the software and the support offered to new and existing customers across the world. I look forward to enhancing our longstanding relationship with LexisNexis through the ongoing provision of HotDocs software.”
“As LexisNexis continues to transform its portfolio of offerings, we believe that Capsoft – as the largest distributor of HotDocs software globally – is singularly equipped to maintain and enhance HotDocs software and support for that product’s customer base,” said Alison Manchester, vice president of content management services at LexisNexis.
Comment: This is an interesting development as we've been hearing mutterings for some time that many more law firms would invest in document assembly/automation systems if they could get hold of HotDocs and be confidant the product was going somewhere – as distinct from merely languishing at the bottom of the LexisNexis software toy cupboard. With Capsoft now owning the IP and responsible for ongoing development, it looks like HotDocs may now benefit from the TLC it deserves – which is bad news for all the other document assembly/automation systems players in the market. And, is does once again raise the question of whether legal publishers really are the best people to run software businesses.